Gold rebounded Friday, heading for a weekly gain as bargain hunting, a softer dollar and lingering U.S.-Iran concerns revived demand for safe assets.
Spot gold jumped 3.9% to $4,954.92 an ounce, reversing a volatile Asia-session slide and positioning the metal for a roughly 2% weekly rise.
U.S. gold futures for April settled 1.8% higher at $4,979.80, as markets absorbed CME Group’s earlier delay in publishing metals settlements.
The dollar index slipped 0.2%, making dollar-priced bullion cheaper for overseas buyers and supporting prices amid heightened market volatility.
Iran signaled nuclear talks with the U.S., mediated by Oman, had begun positively, easing immediate war fears but keeping geopolitical uncertainty in focus.
Analysts said gold’s rebound lacks momentum without a major catalyst, even as its safe-haven appeal persists during geopolitical and economic stress.
Silver surged 8.6% to $77.33 after hitting a six-week low, though it remained down sharply for the week amid speculation and higher margin requirements.
