Doha: Gold rose more than 2% on Wednesday, buoyed by a softer dollar, while a drop in oil prices eased concerns about elevated inflation and higher global interest rates, amid reports of a US plan to end the Middle East war. Spot gold rose 2.1% to $4,568.29 per ounce, while US gold futures for April delivery gained 3.8% to $4,569.40.

According to Qatar News Agency, the dollar eased, making greenback-priced bullion cheaper for holders of other currencies. Spot silver rose 3.8% to $73.94 per ounce. Spot platinum gained 2.6% to $1,984.05 and palladium was up 1.5% at $1,461.75.