Gold prices rose to $4,419 on a weaker dollar, while Brent crude hit $100 a barrel as markets brace for critical U.S. inflation data and potential Federal Reserve rate hikes.
Gold spot price rose 0.4% to $4,418.87 as the dollar weakened and markets awaited US inflation data.
The US Dollar Index edged lower to 98.74, providing support to dollar-denominated commodities.
US 10-year Treasury yields rose after the government's debt purchase plan, increasing the opportunity cost of holding gold.
Silver spot price increased 0.5% to $67.62, tracking gold's gains on a weaker dollar.
Brent crude reached $100 a barrel for the first time since July, supported by Middle East supply concerns.
Platinum spot price declined 0.6% to $1,889.34, underperforming gold and silver amid mixed precious metals dynamics.
Spot gold climbed 0.4% to $4,418.87 as a softer U.S. dollar bolstered precious metals. Investors remain focused on upcoming inflation reports and Federal Reserve policy signals, while Brent crude hit $100 a barrel amid escalating Middle East tensions.
Gold is currently benefiting from a weaker U.S. dollar and safe-haven demand, which are offsetting the negative pressure typically caused by rising Treasury yields.