Gold rose on Thursday as the dollar weakened after a 10-day winning streak and investors took
the opportunity to buy bullion as a hedge against political uncertainty in the United States and Europe.
Spot gold rose 0.63 percent to $1,240.31 an ounce and is up about 10 percent from a mid-December low. U.S. gold futures settled $8.50 higher at $1,241.60.
Concern over U.S. President Donald Trump's policies, as well as elections in the Netherlands, France and Germany this year, have fueled gold's rise to a peak of $1,244.67 on Feb. 8.
But the prospect of a higher dollar and U.S. Treasury yields after Fed Chair Janet Yellen said that U.S. interest rates may need to be raised in March pushed gold to $1,216.41 on Wednesday, its lowest since Feb. 3.