Gold prices rise further

LONDON, Feb 04 (Reuters): Gold prices rose further on Wednesday after logging its biggest daily gain in 17 years in the previous session, as investors flocked to the safe-haven asset amid fresh US-Iran tensions.

Spot gold was up 2.2 per cent at $5,046.47 per ounce, as of 1218 GMT, building on a 5.9 per cent rise on Tuesday.

US gold futures for April delivery climbed 2.7 per cent to $5,068.90 per ounce.

"It is a confluence of risk factors that's really driving the demand. One, there is that central bank independence question, and two, there's all the geopolitical risk aspects," said WisdomTree commodities strategist Nitesh Shah.