Gold ticks higher driven by geopolitical tensions

Gold prices rose today, April 11 as the geopolitical tensions stimulated demand for the precious metal.

The gold spot prices edged up 0.6%to $2,345.56per ounce at 03:17GMT.

Gold futures also rose 0.6% to $2,362.80per ounce.

Silver spot prices gained 0.2% to $28.03per ounce. Platinum spot prices added 1% to $968.90, and palladium moved 0.3% to $1,054.10 per ounce.

“Markets are now adjusting to the high-for-longer rate scenario, which translates to some near-term profit-taking in gold prices overnight,” Jun Rong said, adding that the downside seems limited into the session as market participants still perceive gold as a good hedge against geopolitical tensions.