Gold prices climbed more than 2% on Wednesday, as falling oil prices eased some inflation concerns and dampened interest-rate hike bets, even as investors weighed conflicting developments in the U.S.-Israeli war on Iran.
Spot gold rose 2.4% to $4,582.18 per ounce, as of 1141 GMT. The metal had hit a four-month low of $4,097.99 on Monday. U.S. gold futures for April delivery jumped 4.1% to $4,581.60.