New York - Saba:
Gold rose on Thursday in weak trading supported by the slight decline in the dollar and geopolitical tensions.
Gold rose in spot transactions by 0.5 percent to $2626.10 per ounce, according to Reuters.
Gold prices have increased 27 percent since the beginning of the year and are heading towards achieving their best performance since 2010, driven by the large cuts in interest rates by the Federal Reserve (the US central bank) and the escalation of geopolitical uncertainty.
Gold is often seen as a safe-haven investment during times of geopolitical turmoil and rises in a low interest rate environment. U.S. gold futures rose 0.3 percent to $2,643.70.
The dollar index fell 0.1 percent, making gold priced in the greenback cheaper for holders of other currencies.
In other precious metals, silver was steady at $29.6 an ounce, platinum fell 0.8 percent to $936.41 and palladium fell 1.2 percent to $942.52 dollars.
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