Gold prices showed a mixed performance on Thursday as traders awaited details from U.S. and Iran nuclear talks. They also assessed the potential impact of new U.S. tariff legislation. Uncertainty both capped gains and supported the market. Gold (XAUUSD) traded at $5171.00 at 12:17 GMT, up $7.42 or +0.14%.
The third round of U.S.-Iran nuclear talks began in Geneva today. Separately, U.S. Trade Representative Jamieson Greer announced Wednesday that the U.S. increased tariff rates for certain countries. These rates rose from 10% to 15% or more.
The U.S. dollar gained slightly Thursday after an earlier setback. It remained below its 50-day moving average of 97.919, offering limited support to gold prices. Gold hit a record high of $5,602.23 on January 29. Prices have risen 20% this year, driven by strong buying from Asia and central banks.
Traders are watching today’s weekly U.S. jobless claims report. This report could provide further directional clues for the market.