Gold gains on softer dollar

Gold prices rose on Wednesday, lifted by a softer dollar and heightened safe-haven demand amid uncertainty over U.S. tariffs and growing friction between Washington and Tehran.

Spot gold rose 0.5% to $5,175.00 per ounce, as of 1106 GMT. U.S. gold futures for April delivery were up 0.5% at $5,193.90.

The U.S. dollar index (.DXY), opens new tab was down, making greenback-priced bullion cheaper for other currency holders.

"Spot gold is being supported above the $5,000 level by the softer U.S. dollar, a muddied outlook on U.S. trade policy, and persistent geopolitical tensions," said Han Tan, chief market analyst at Bybit.

"As long as these fundamental drivers remain intact, bullion bulls will be eager for a return towards record highs."

Gold, a traditional safe-haven, does well during times of geopolitical and economic uncertainty.

U.S. President Donald Trump said in his State of the Union speech that "almost all" countries and corporations want to stick to tariff and investment agreements previously made with Washington.

The country began collecting a temporary 10% global import tariff on Tuesday, but Washington was working to raise it to 15%, a White House official said.

Meanwhile, US envoys Steve Witkoff and Jared Kushner are slated to meet with an Iranian delegation for a third round of nuclear talks on Thursday in Geneva.

Spot silver climbed 3.5% to $90.40 per ounce, a three-week high.    �"Reuters