Gold climbs as dollar weakens and oil prices slide

Gold surged more than 2 percent on Wednesday, supported by a softer US dollar and falling oil prices, which helped ease concerns over rising inflation and higher global interest rates amid reports of Washington's plan to end the war, News.Az reports, citing foreign media.

Spot gold rose 2.1 percent to $4,568.29 per ounce, while US gold futures for April delivery climbed 3.8 percent to $4,569.40.

The weaker dollar made dollar-priced bullion more affordable for investors holding other currencies.

Silver also gained, with spot silver up 3.8 percent to $73.94 per ounce.

News.Az 

By Nijat Babayev