02:00 PM EDT, 07/10/2025 (MT Newswires) -- (Updates prices.)

Gold traded higher for a second day midafternoon on Thursday on safe haven demand and concerns over U.S. tariff policies even as the dollar and treasury yields rose.

Gold for August delivery was last seen up US$4.70 to US$3,325.70 per ounce.

The precious metal has traded in a tight range since falling off the June 13 record higher of US$3,452.80 per ounce on June 13. However safe-haven buying remains firm as Houthi militants renew attacks on Red Sea shipping, sinking two cargo vessels this week, while the outlook for global economic growth is uncertain amid arbitrary tariff threats from U.S. President Donald Trump.

Gold is supported by "renewed tariff concerns, and rising speculation about growth, inflation, and the future path of U.S. interest rates-fueled in part by Trump's intensified criticism of the Fed chair and calls for sharply lower rates.", Saxo Bank noted.

A rising dollar and higher treasury yields are checking gold's gains. The ICE dollar index was last seen up 0.19 points to 97.74. The yield on the U.S. two-year note was up 4.4 basis points to 3.893%, while the 10-year note is paying 4.363%, up 2.3 points.