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Globally, the precious metal was trading at $2,611.93 per ounce, up by 0.95 per cent at 12.50pm UAE time
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If favourable market conditions continue, prices could reach between $2,600 and $2,800 over the next 12 months, says expert
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Asian currencies were mixed on the day, with the offshore Chinese yuan gaining nearly 0.2% while the Malaysian ringgit and Korean won declined
Spot gold was trading at $2,567.13 per ounce, up 0.31 per cent
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This shift in trend could diversify the market rally
Asian currencies were mostly higher and the dollar index was flat at 100.70 having declined in the previous three sessions
Some analysts attributed the drop in prices to profit-taking following a strong rally in the past few trading days
Easing dollar index making bullion more attractive to buyers holding other currencies