Gold prices could find support near $5,140 per ounce and may attempt another test of the $5,244 resistance level, Reuters technical analyst Wang Tao said. He noted that the nearest resistance lies at $5,205, and a sustained move above this point could push prices into the $5,221 to $5,244 range.
On the geopolitical front, Iran and the United States are scheduled to conduct a third round of nuclear negotiations in Geneva on Thursday, Oman’s Foreign Minister Badr Albusaidi said.
In other precious metals, spot silver increased 1% to $88.23 per ounce after touching a more than two-week high on Monday. Spot platinum advanced 2.1% to $2,212.72 per ounce, while palladium rose 1.4% to $1,793.68.