Gold prices rally as geopolitical tensions linger

Gold prices nudged up today, April 18, amid continued uncertainty for the future of global geopolitical tensions, especially in the Middle East, and with investors awaiting data on the US labor market.

Bullion for June delivery gained 0.23%, or $5.40, to $2,393.80 per ounce at 09:20 am Makkah time, with spot prices also up 0.75% to $2,378.76 an ounce.

Likewise, silver futures for May delivery jumped by 0.88% to $28.65 per ounce, in tandem with a 0.12% hike in platinum spot prices to $944.50 an ounce.

"Given the fact that we do have a lot of uncertainty on the geopolitical front, which is supporting this upward trend that is still prevalent in gold," said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA.

All eyes are on the release of weekly data on US unemployment claims later in the day. Expectations suggest an increase to 215,000 applications during the week ended April 13, after shedding 11,000 to 211,000 applications in the previous week.