Gold prices rose on Thursday, supported by a pullback in the dollar and the prospect of US interest rate cuts later in the year, while investors awaited more details on US President Donald Trump's trade policy, reports Reuters.
Spot gold was up 0.4 per cent at $3,327.42 per ounce by 1108 GMT. US gold futures gained 0.5 per cent to $3,336.40.
"The passing of the One Big Beautiful Bill, unsettling trade (policies) and rate-cut expectations should be 'dollar negative' kind of events... gold should be favoured in that environment," said WisdomTree commodities strategist Nitesh Shah.
The US dollar index eased 0.2 per cent against its rivals, making gold less expensive for other currency holders.
Trump escalated his tariff campaign on Wednesday with a 50 per cent levy on copper imports and a 50 per cent duty on goods from Brazil, both effective from August 1.
Trump also issued tariff notices to seven minor trading partners, adding to the 14 issued earlier in the week, also set to take effect on August 1 unless agreements are reached.
However, financial markets have largely shrugged off US President Donald Trump's latest tariff salvos with global stocks advancing on Thursday.
"The market impact of tariffs seems to lessen with each new headline. Tariff fatigue is here, and traders need a new catalyst to awaken volatility from its lull," said Matt Simpson, a senior analyst at City Index.
Minutes of the Fed's June 17-18 meeting showed that only "a couple" of officials believed that rate cuts could happen this month, with most worried over inflation tied to Trump's tariff policies.
Spot silver rose 1.1 per cent to $36.72 per ounce, platinum gained 0.5 per cent to $1,354.46, and palladium climbed 2.4 per cent to $1,131.25.
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