Gold prices close in green for 1st time in 3 sessions

Gold bars

Gold prices ended in the green today, March 11, after declining during the previous two sessions amid investor profit-taking, stemming from growing uncertainty about US trade policies.

April gold futures rose 0.75%, or $21.5, to finish at $2,920.90 per ounce.

Meanwhile, the US dollar index, which gauges the greenback’s strength against a basket of six major currencies, dropped 0.55% to 103.29 points at 10:02 pm Makkah time.

"Gold is likely to remain supported amid ongoing market uncertainties, bolstering demand for the safe-haven asset. However, any positive developments in Russia-Ukraine negotiations could reduce risk premiums," said Zain Vawda, market analyst at MarketPulse by OANDA, Reuters reported.

Markets are awaiting the release of the US Consumer Price Index (CPI) reading on Wednesday, a day before the Producer Price Index (PPI) reading, to gauge the future trajectory of US interest rates.