Gold Prices Reach 11-Week High

Gold prices surged to an 11-week high during early Asian trading on Wednesday, supported by a weaker dollar and increased demand for safe-haven assets.

Spot gold rose 0.1% to $2,748.58 per ounce by 01:05 GMT, after hitting its highest level since November 5 earlier in the session. U.S. gold futures also climbed 0.1% to $2,763.40.

A weaker dollar makes gold more appealing to foreign buyers, while the metal is widely regarded as a safe investment during times of economic and geopolitical uncertainty.

Among other precious metals, spot silver remained steady at $30.85 per ounce, palladium edged up 0.1% to $958.11, and platinum held firm at $944.05.