Gold Inches Higher, Supported by Soft Dollar and Rising Middle East Tensions

Gold prices saw a modest increase on Thursday, influenced by a combination of a dipping dollar and rising tensions in the Middle East. This uptick comes as investors are on the lookout for upcoming U.S. economic data, which is expected to provide further insights into the Federal Reserve’s stance on interest rates. The spot gold price rose by 0.1% to $2,026.7 per ounce early in the morning, reaching its highest level since February 9. Similarly, U.S. gold futures also experienced a slight rise of 0.1%, marking a price of $2,036.9 per ounce.