Gold rises in volatile trade ahead of US inflation data

Spot gold was trading at around $4,723.10 per ounce by late evening, recovering from an earlier sharp decline of more than one percent during the session. US gold futures remained steady at approximately $4,740.40.

The market's upward momentum continues to be supported by safe-haven demand linked to geopolitical tensions, which is currently offsetting pressure from a stronger US Dollar.

In other precious metals, silver surged to $84.99 per ounce, while platinum and palladium also saw gains of 2.6% and 1% respectively.