Gold closes above $4,800 on weaker dollar, easing inflation fears

June gold futures rose 2.87%, or $134.5, to $4,813.1 per ounce

Gold prices rose for a fourth consecutive session on Wednesday to settle above $4,800 per ounce, supported by a weaker dollar and easing inflation concerns, amid cautious hopes for de-escalation in the Middle East.

June gold futures gained 2.87%, or $134.5, to settle at $4,813.1 per ounce.

Silver prices also rose, with April futures up 1.58%, or $1.177, at $75.867 per ounce.

The gains came as the dollar index fell, with concerns over tighter monetary policy in response to energy price shocks receding after US President Donald Trump said the war could end within two to three weeks.

In the United States, private sector job growth exceeded expectations in March, while retail sales rose in February, pointing to resilience in the labor market and consumer demand.