Muscat: Gold prices stabilized today as investors awaited clearer signs of progress in efforts to de-escalate the conflict in the Middle East, while remaining cautious ahead of new geopolitical developments that could impact safe-haven assets demand. Spot gold was trading at $4,503.29 per ounce, while US gold futures for April delivery fell 1.2% to $4,500.
According to Oman News Agency, gold came under further pressure as crude oil prices surpassed $100 a barrel, prompting investors to reassess the prospects for easing tensions in the Middle East. In the realm of other precious metals, silver experienced a slight decline of 0.1% in spot trading, bringing it to $71.19 an ounce. Platinum saw a decrease of 0.7% to reach $1,906.90, and palladium dropped 1.4%, settling at $1,404.