Gold prices climbed above the $4,100 level on Thursday, reflecting a 1.30% gain during the North American session, according to FX Street. The precious metal rebounded strongly after hitting weekly lows near $4,021 on Wednesday, with XAU/USD trading at $4,132 as tensions in the Middle East showed signs of easing.
This upward movement in gold was largely driven by a weakening US Dollar, which retreated amid falling oil prices linked to the improved geopolitical outlook. FX Street reported that the softer dollar helped boost demand for gold as a safe-haven asset.
For Japanese investors, this development comes at a time when the yen remains sensitive to shifts in global risk sentiment and commodity prices, highlighting the importance of monitoring the interplay between FX and commodities in portfolio strategies.