Gold gains on softer dollar; Iran-US talks in focus

Published Thu, Feb 26, 2026 · 10:10 AM

[BENGALURU] Gold prices edged higher on Thursday (Feb 26), buoyed by a softer US dollar and safe-haven demand fuelled by uncertainty surrounding US tariff policy and US-Iran talks.

Spot gold was up 0.3 per cent at US$5,184.43 per ounce by 9.10 am. Bullion hit a more than three-week high on Tuesday.

US gold futures for April delivery were down 0.5 per cent at US$5,199.20.

The US dollar began the day on the back foot, as better-than-expected earnings from Nvidia boosted investor confidence and markets awaited details of the latest US tariffs on imports of foreign goods.

A softer greenback makes US dollar-denominated gold cheaper for holders of other currencies.

The US tariff rate for some countries will rise to 15 per cent or higher from the newly imposed 10 per cent, US Trade Representative Jamieson Greer said on Wednesday, without naming any specific trading partners or giving further details.

Markets currently expect three 25-basis-point rate cuts from the Federal Reserve this year, according to CME’s FedWatch Tool.

Investors await the weekly jobless claims data due later in the day for more cues on the Fed’s monetary policy path.

Iran and the US hold the latest round of talks in Geneva on Thursday aimed at resolving their longstanding nuclear dispute and averting new US strikes on Iran following a large-scale military buildup.

Spot silver rose 0.1 per cent to US$89.49 per ounce, after climbing to a three-week high on Wednesday.

Spot platinum edged 0.3 per cent higher to US$2,294.30 per ounce, while palladium gained 0.8 per cent to US$1,809.62. Both metals reached three-week highs in the previous session. REUTERS