Gold prices edged higher on Thursday due to tensions in the Middle East and US price cuts. U.S. Gold futures were down 0.2 percent at $2,428.40, while spot gold was up 0.3 percent at $2,389.42 an ounce.
Geopolitical unpredictability in the Middle East and falling US Treasury yields increase the attractiveness of gold. Analysts expect short-term gold prices to remain steady around $2,350, and may increase to $2,500 later in the year.
Other precious metals saw palladium gain 1.2 percent to $892.75, platinum up 0.1 percent to $920.40 and spot silver up 1 percent to $26.84 an ounce. Impala disclosed a $1 billion impairment due to the decline in platinum metal prices.
