Gold surges as dollar weakens on de-escalation hopes. Gold prices climbed to their highest level since March 20, reaching $4,723.21 per ounce as the US dollar fell 0.2 percent following President Trump's statement that the Iran conflict could wind down within two to three weeks. Spot gold rose 0.4 percent to $4,685.79 per ounce, while April US gold futures gained 0.8 percent to $4,713.40. The weaker dollar made gold more affordable for international buyers. However, analysts note that gold's upside remains limited by rising interest rate expectations. Gold fell over 11 percent in March, its steepest monthly decline since October 2008, as traders priced out Federal Reserve rate cuts. The metal thrives in low-rate environments since it generates no yield.
