Gold reaches near two-week high as dollar and yields drop

Gold prices advanced toward a two-week high on Wednesday, recovering from a historic monthly slump as the United States dollar and Treasury yields softened. The market shift comes amid growing optimism that the conflict in Iran may be approaching a de-escalation phase.

Spot gold rose 1.2% to $4,723.35 per ounce by mid-morning, while U.S. gold futures for April delivery climbed 1.5% to $4,749.90. The rally follows a difficult March where the metal saw its steepest monthly decline in nearly 17 years.