Gold prices rise amid anticipation of the US-Iranian talks
Gold prices rose slightly during Thursday’s trading, supported by continued uncertainty surrounding politics The US dollar, which made commodities denominated in it, including gold, less expensive for holders of other currencies.
Carlo Alberto de Casa, an external analyst at Swissquote Banking Group, said that the continued tensions between Iran and the United States, in addition to the uncertainty related to US President Donald Trump’s tariffs, represent a support factor for gold prices.
US envoy Steve Witkoff and Trump’s son-in-law Jared Kushner are scheduled to meet an Iranian delegation in Geneva. To hold a third round of nuclear talks.
During his State of the Union address, Trump had hinted at the possibility of a strike against Iran, stressing that he would not allow it to possess a nuclear weapon.
Gold, which does not generate a return, is seen as a hedging tool in times of geopolitical and economic uncertainty.
In a related context, US Trade Representative Jamieson Greer said that the rate of customs duties on some countries will rise to 15% or more compared to At the new rate of 10%, without revealing specific trading partners or additional details.
Gold prices had reached a record level of $5,594.82 per ounce on January 29, and have risen by about 20% since the beginning of the year.
De Casa added that the wave of global demand for gold has not yet ended, noting that sentiment remains positive, supported by strong demand from Asia and from central banks.
And on On the data front, investors are awaiting the release of weekly unemployment claims data in the United States later today.
As for other precious metals, silver fell by 2.1% to $87.52 per ounce, platinum fell by 0.5% to $2275.65, and palladium fell by 0.5% to $1785.79 per ounce.
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