Friday Short Covering

Short-sellers who profited from the mid-week price plunge began covering positions ahead of the weekend. The lack of a signed memorandum in Islamabad has kept a 'cautionary premium' in the market, preventing a return to pre-war price levels.

Dollar Index Softens

A slight softening in the US dollar index provided an additional tailwind for gold. As global markets await further clarification on US trade policy, gold remains the preferred hedge against potential currency volatility.