2025.03.1309:36:00UTC+00Gold Gains For Third Day On Weak Dollar

Gold gained for a third straight session and held near its record peak on Thursday as the dollar dipped and U.S. Treasury yields turned lower on concerns over a potential recession in the United States.

Spot gold rose 0.4 percent to $2,945.94 per ounce in European trade while U.S. gold futures were up 0.3 percent at $2,954.89.

The U.S. dollar remained depressed near its lowest level since October 16 touched on Tuesday due to worries over a recession.

It is feared that U.S. President Trump' tariff policies could hit businesses and in turn impact the common consumers in a consumption-driven economy.

On the economic front, tamer-than-expected U.S. CPI data released on Wednesday led to some optimism about the Federal Reserve resuming interest rate cuts in the near future.

Traders look forward to the release of U.S. reports on producer price inflation and weekly jobless claims later in the day for additional impetus.

The producer price index will offer insights on additional categories that feed directly into the Fed's favoured inflation gauge.