Gold ticks up as dollar slips on Mideast de-escalation hopes

Gold prices edged higher on Wednesday to their highest in nearly two weeks, supported by a weaker dollar as US President Donald Trump said the war with Iran could wind down within two to ​three weeks. Spot gold rose 0.4% to $4,685.79 per ounce by 0228 GMT, having hit its ​highest level since March 20 at $4,723.21 earlier in the day. US gold ⁠futures for April delivery gained 0.8% to $4,713.40. The US dollar fell 0.2%, making greenback-denominated commodities more ​affordable for holders of other currencies. “Talks that the U.S. might wrap up the war in ​two to three weeks even if the Strait (of Hormuz) is not reopened reinvigorated the US equity markets and pulled gold higher along with it,” said Marex analyst Edward Meir.