Gold prices rallied above $5200 per ounce in electronic trading on Tuesday, supported by a softer US dollar after President Donald Trump signaled that the Middle East conflict could conclude sooner than expected. The dollar index hovered below 99 as easing safe-haven demand weighed on the currency, reversing earlier gains driven by geopolitical tensions and surging oil prices. Trump also indicated plans to ease oil-related sanctions and deploy US naval escorts for tankers passing through the Strait of Hormuz, aiming to stabilize energy markets. In the domestic market, MCX April bullion futures climbed more than 1% to Rs 162,149 per 10 grams. Market participants are now closely watching upcoming US inflation readings, including CPI and PCE data, for clearer signals on the Federal Reserve's policy trajectory.
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