MUSCAT : Spot gold climbed 3.7 per cent to $4,837.16 an ounce, recovering from the previous session’s month-low. The precious metal had touched a record high of $5,594.82 last Thursday before retreating. Meanwhile, U.S. gold futures for April delivery rose 4.5 per cent to $4,859.30 an ounce.

The dollar remained supported, buoyed by upbeat economic indicators and evolving expectations around Federal Reserve policy, which overshadowed lingering concerns over a partial U.S. government shutdown.

Market sentiment was also influenced by fresh trade developments after Donald Trump announced a trade agreement between the United States and India. Under the deal, U.S. tariffs on Indian goods will be reduced from 50 per cent to 18 per cent, in exchange for India halting purchases of Russian oil and easing certain trade barriers.

Other precious metals posted strong gains alongside gold. Silver jumped 5.9 per cent in spot trading to $84.09 an ounce, after reaching an all-time high of $121.64 last Thursday. Platinum rose 3 per cent to $2,183.64 an ounce, rebounding from its record peak of $2,918.80 on January 26, while palladium gained 2.7 per cent to $1,765.75 an ounce.