Gold prices rose on Wednesday to their highest in nearly two weeks, supported by a weaker dollar following U.S. President Donald Trump's statement that the war with Iran could wind down in weeks. Spot gold rose 1% to $4,717.82 per ounce by 0712 GMT, its highest level since March 20. Gold fell more than 11% in March in its steepest monthly decline since October 2008 as elevated oil prices fuelled inflation concerns and bets of a hawkish monetary policy response. Oil prices gained on Wednesday despite hopes of a de-escalation in the Iran conflict, as infrastructure damage is likely to keep supplies tight. In such a scenario, real yields can ease, providing support for gold," said Wong of OCBC.

Source: The Star April 01, 2026 18:51 UTC