WASHINGTON (dpa-AFX) - Prices of the yellow metal increased on Thursday amidst anticipation of peace talks that could lead to an end to the U.S.-Iran war. A soft dollar also supported the rise in the prices of the yellow metal.
The dollar index, in the meanwhile traded just above the flatline, strengthening the demand for the yellow metal. The six-currency Dollar Index which measures the U.S. dollar's strength against a basket of currencies is currently trading 0.11 percent higher on an overnight basis at 98.16 after ranging between 97.94 and 98.27.
Gold Futures for June settlement is currently trading at $4,836.16, adding 0.26 percent from the previous close of $4,823.60. While the day's trading ranged between $4,812.75 and $4,860.95, the 52-week trading ranged between $3,123.30 and $5,626.80. Gold Futures had touched an all-time high of $5,626.80 on January 29.
The day's price movements have resulted in a weekly gain of 0.46 percent. Despite monthly losses of 4.1 percent, year-to-date gains exceed 10.3 percent. The yellow metal's price gain over the 3-year horizon now stands at 142 percent.
Spot Gold is currently trading 0.57 percent higher on an overnight basis at $4,817.88 per troy ounce. While the day's trading ranged between $4,790.8 and $4,838.38, the 52-week trading ranged between $3,120.52 and $5,595.46. Spot Gold had touched an all-time high of $5,595.46 on January 29.
At current prices, Gold Futures and Spot Gold have both gained around 44 percent over the past year.
Prices of other precious metals continued to whipsaw. Silver futures for May settlement have gained 0.05 percent whereas Platinum Futures for July settlement recorded an overnight jump of 0.99 percent.
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