Gold Prices Rise Amid Geopolitical Tensions and a Weaker Dollar

Gold prices rose on Thursday in thin trading due to the Christmas holiday, supported by a slight decline in the dollar and geopolitical tensions.

Spot gold climbed 0.5% to $2,626.10 per ounce.

Gold prices have increased by 27% since the beginning of the year and are on track to achieve their best performance since 2010. This surge is driven by substantial interest rate cuts by the Federal Reserve and escalating geopolitical uncertainties.

As for other precious metals, silver remained steady at $29.6 per ounce. Platinum dropped 0.8% to $936.41, while palladium fell 1.2% to $942.52.