A slight increase in gold prices… and a decline in the dollar eases pressure on metals
Gold prices rose slightly today, Wednesday, with The conflict in the Middle East, and investors’ demand for safe assets, while the slowdown in the rise of the US dollar contributed to supporting the prices of precious metals.
And The price of goldin spot transactions rose by 0.7%, reaching $5,127 per ounce, by 18:25 GMT, after falling by more than 4% yesterday, Tuesday.
In other precious metals, the price of silver rose by 1%, stable at $83 per ounce, after falling by more than 8% in the previous session.
In a related context, the price of platinum rose by 2.6% to $2137.30, while the price of palladium increased 1.5% to $1672.38.
The World Platinum Investment Council reported that the global platinum market is heading towards recording a fourth consecutive annual deficit in 2026.
On the other hand, The US dollar after sharp gains on Tuesday, making greenback-denominated gold cheaper for holders of other currencies.
On the geopolitical front, the United States and Israel continued their attacks on Iran for the fifth day in a row, and US Defense Secretary Pete Hegseth announced that a US submarine had sunk an Iranian warship off the southern coast of Sri Lanka, killing dozens of Iranian sailors.
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