Gold levels rose during the Asian session on Wednesday to record the highest level in a week after rising for the second consecutive day, with the return of gold to the role of safe havens in financial markets.
US inflation data that saw a decline during February/February compared with the previous reading paid the US dollar to undo the currency due to expectations that the Fed may be working to soothe interest rate increases under unstable inflation.
Gold is inversely associated with US interest rates and it is pushed to rise today after the forecast of rising market interest rates after US inflation data has shrunk.
On the other hand, the stock markets are witnessing a decline, which increases the demand for gold as a safe haven, especially since markets are in a state of the United States Administration's moves on the tariff profile.
Gold prices are currently traded at the level of $1328.19 for the ounce, after registering the lowest level at $1324.01 per ounce, and it opened today's meeting at the level of $1325.81 per ounce, registering the highest level at $1329.23 per ounce.