Gold prices climbed, reclaiming a modest position above $2,900 per ounce, as the global market selloff that had unsettled Wall Street began to lose momentum.

Gold prices surged by up to 1% after China's central bank added gold to its reserves for the first time in seven months, while the collapse of Syria’s ruling dynasty contributed to further instability in the Middle East.

Gold prices rose on Thursday, driven by a weaker dollar, as investors awaited key US economic data that could provide insights into the Federal Reserve's future interest rate decisions.