Gold Rises Backed by Weaker Dollar and Lower Crude

Gold prices rose on Thursday, supported by lower crude oil prices and a weaker dollar. Investors are currently assessing prospects for a resolution to the ongoing conflict between the United States and Israel against Iran. Spot gold climbed by 1.04% to reach $4480.74 per ounce by 03:40 GMT. US gold futures for August delivery also increased by 0.79% to $4502.1. The decline in the dollar makes gold less expensive for holders of other currencies.