Beirut: Gold prices rose on Thursday after falling earlier to their lowest level in two months, supported by a weaker US dollar and lower oil prices. Spot gold climbed 0.5% to $4,477.59 an ounce, recovering from its lowest level since late March. US gold futures also gained 0.6% to $4,475.60. The dollar index slipped 0.2%, making gold less expensive for holders of other currencies.
According to Qatar News Agency, the gains came after a report said the United States and Iran were working to extend a ceasefire agreement, easing pressure on global markets. Among other precious metals, silver rose 0.3% to $74.80 an ounce, while platinum fell 0.8% to $1,902.64 and palladium dropped 1.9% to $1,364.10.