Gold prices experienced a 0.4% increase, reaching $4,667.00 an ounce, following a two-day decline. This rise comes as traders consider China's significant gold purchases, with the central bank buying the most gold in over a year, marking the 17th month of increasing reserves. The weakening U.S. dollar has also made gold more affordable for buyers. However, the ongoing conflict in the Middle East, now in its sixth week, has raised concerns about economic growth and inflation, particularly as U.S. President Donald Trump set a deadline for negotiations with Iran. The conflict has led to a 11% decline in gold prices since February, as investors liquidated positions to cover losses elsewhere. Despite these challenges, there are signs of renewed interest in gold, with holdings in gold-backed exchange-traded funds rising for the first time since the conflict began. Meanwhile, silver prices edged down 0.3% to $72.58, while platinum traded lower and palladium saw gains.