Precious-Gold drifts higher, eyes on Fed Chair Warsh's comments
GLD•Other precious metals
Spot silver XAG= gained 1.2% to $68.88, platinum XPT= rose 0.9% to $1,844.78 and palladium XPD= firmed 0.2% to $1,331.50.
Geopolitical backdrop and analyst technical levels
On the geopolitical front, Qatar's prime minister will visit Tehran to relaunch diplomacy after the U.S. and Iran traded recriminations over Washington's promise to increase economic pressure on Tehran.
Gold is considered a hedge against geopolitical and economic risks, but higher interest rates can diminish its appeal as it pays no interest.
"The $4,700 area remains an important short-term barrier. Gold may need to consolidate within the $4,500–$4,700 range before developing fresh momentum," said Linh Tran, market analyst at XS.com.
