Gold Prices Rise in the Global Market

Gold prices edged higher in the international market on Thursday as investors turned to safe-haven assets amid the expanding conflict in the Middle East. However, the recovery of the US dollar limited the pace of the price increase.

Spot gold rose 0.4 percent to $5,153.11 per ounce as of 0638 GMT. Meanwhile, US gold futures for April delivery increased by 0.5 percent to $5,161.30 per ounce.

Market analysts say that investors typically shift toward gold during periods of uncertainty. Kyle Rodda, senior financial market analyst at Capital.com, said the current crisis could support gold prices in the long run. However, uncertainty over how far the conflict may escalate could keep markets volatile.

Investors are now closely watching developments in the Middle East and the movement of the US dollar. According to analysts, if the conflict intensifies further, demand for gold as a safe asset may rise. On the other hand, a stronger dollar could limit further gains in gold prices.