On Thursday, gold prices saw a slight rise, bolstered by a declining dollar and increased demand for safe assets amid ongoing uncertainty surrounding U.S. tariff policies and negotiations between the U.S. and Iran. Spot gold rose by 0.3%, hitting $5,184.43 per ounce as of 0110. Bullion hit a high not observed in more than three weeks on Tuesday. U.S. gold futures for April delivery saw a decrease of 0.5%, closing at $5,199.20.

The dollar started the day at a disadvantage, as stronger-than-expected earnings from Nvidia boosted investor confidence, while markets looked forward to details regarding the latest U.S. tariffs on foreign imports. US Dollar A weaker dollar makes gold priced in dollars more accessible for those using other currencies. The U.S. tariff rate for certain countries is set to rise to 15% or more from the recently established 10%, as announced by U.S. Trade Representative Jamieson Greer on Wednesday, without naming specific trading partners or offering further details.

Markets are expecting three reductions of 25 basis points in interest rates from the Federal Reserve this year, according to CME’s FedWatch Tool. Investors are looking forward to the release of the weekly jobless claims data later today, hoping to gain more insights into the Federal Reserve’s direction concerning monetary policy. Iran and the U.S. are set to hold discussions in Geneva on Thursday, concentrating on their ongoing nuclear conflict and the aim of preventing additional U.S. military actions against Iran amid a notable military escalation.

Spot silver increased by 0.1% to $89.49 per ounce, following a rise to a three-week high on Wednesday. Spot platinum increased by 0.3% to $2,294.30 per ounce, while palladium rose by 0.8% to $1,809.62. Both metals reached three-week highs in the previous session.