Mubasher: Gold prices increased during Thursday’s trades, backed by the rebound in the prices of metals and commodities.

By 8:47 am GMT, gold futures, for June delivery, edged up 0.08% to $1,354.60 per ounce, while spot gold went up by 0.22% to $1,352.36 per ounce.

The prices of metals and commodities lately witnessed strong gains, after the US imposed sanctions on Russia, which threatened a supply shortage.

The rises also coincided with the recent strained geopolitical situation in the Middle East.

Gold prices traded higher despite a rise in the US dollar index by 0.08% to 89.692.