Gold prices rose on Friday as uncertainty over U.S. tariff policies and U.S.-Iran tensions underpinned the metal’s safe-haven appeal and put it on track for a seventh straight monthly gain.
Spot gold gained 0.9% to $5,232.21 an ounce. The metal has climbed 6.5% so far in February, bringing gains for the seven months to 58%.
U.S. gold futures for April delivery were up 1.2% at $5,253.20.
The United States and Iran held indirect talks in Geneva on Thursday over their long-running nuclear dispute, with the Omani mediator saying the two sides had made progress. They plan to resume negotiations next week with technical-level discussions in Vienna.
The U.S. began collecting a temporary 10% global import tariff on Tuesday. However, the rate will rise to 15% for some countries, U.S. Trade Representative Jamieson Greer has said.
On the data front, the number of Americans filing new applications for jobless benefits increased slightly last week, but the unemployment rate was steady in February.
Spot silver rose 4.4% to $92.20 an ounce, on course for a 6.2% monthly gain.
Spot platinum climbed by 5.3% to a four-week high of $2,393.80 an ounce while palladium gained 1.5% to $1,810.60.
