Gold settles higher as tariff risks, geopolitics spur safe-haven demand

April gold futures climbed 0.96% to settle at $5,226.2 an ounce

Gold prices rose at settlement on Wednesday, supported by a weaker dollar and demand for safe havens amid trade and geopolitical tensions.

April gold futures climbed 0.96%, or $49.9, to settle at $5,226.2 an ounce.

Spot silver surged 3.99% to $90.82 an ounce late on Wednesday.

The dollar index, which tracks the US currency against six major peers, slipped 0.13% to 97.7.

The United States began collecting a 10% tariff on imports from all countries on Tuesday, while President Donald Trump threatened to raise the rate to 15%.

In his State of the Union address, Trump said most countries and companies want to preserve existing tariff and investment agreements with Washington.

He also reiterated that the United States would not allow Iran to acquire a nuclear weapon, as the two sides prepare for talks in Geneva on Thursday.