Gold prices rose slightly on Wednesday, supported by increased safe-haven demand as investors sought refuge from volatile equity markets and economic uncertainty. Spot gold was up 0.3% at $1,287.60 per ounce.

Factors Influencing Gold Prices

• Safe-Haven Demand: Global economic concerns and stock market fluctuations drove investors towards gold as a safe store of value.
• Dollar Weakness: A slightly weaker U.S. dollar made gold more attractive to investors holding other currencies.
• Geopolitical Tensions: Ongoing geopolitical risks continued to support demand for safe-haven assets like gold.

Analyst Commentary

“Gold is finding support from safe-haven buying as investors are worried about the global economic outlook,” said a senior market analyst at ABC Bullion. “The weaker dollar is also providing some support.”

Looking Ahead

Market participants are closely watching upcoming economic data releases and central bank policy announcements, which could further influence gold prices in the near term. Any escalation in geopolitical tensions could also provide additional support for gold.