PRECIOUS-Gold gains on softer dollar; Iran-US talks in focus

By Ishaan Arora

Feb 26 (Reuters) - Gold prices edged higher on Thursday, boosted by a softer dollar and safe-haven demand amid uncertainty over U.S. tariff policy and U.S.-Iran talks.

Spot gold XAU= was up 0.4% at $5,192.28 per ounce, as of 0500 GMT. Bullion hit a more than three-week high on Tuesday.

U.S. gold futures GCcv1 for April delivery were down 0.3% at $5,208.80.

"Price action reflects a re-pricing of fresh policy (tariff) uncertainty, geopolitical concerns, and a subdued dollar," said Christopher Wong, a strategist at OCBC.

"Two-way consolidation is still likely in the interim as markets digest geopolitical (news), dollar moves, tariff surprises, and Fed policy uncertainty."

The dollar began the day on the back foot, as better-than-expected earnings from Nvidia boosted investor confidence, while markets awaited details of the latest U.S. tariffs on imports. USD/

A softer greenback makes dollar-denominated gold cheaper for holders of other currencies.

The U.S. tariff rate for some countries will rise to 15% or higher from the newly imposed 10%, U.S. Trade Representative Jamieson Greer said on Wednesday, without naming any specific trading partners or giving further details.

Investors awaited the weekly jobless claims data, due later in the day, for more clues on the Fed's monetary policy path.

Iran and the U.S. are scheduled to hold the latest round of talks in Geneva on Thursday aimed at resolving their longstanding nuclear dispute and averting new U.S. strikes on Iran following a large-scale military buildup.

Deutsche Bank, meanwhile, noted a resumption of outperformance by white metals versus gold. "This is supportive for our silver forecast of $100/oz at year-end, based on a gold-silver ratio of 60," the bank said in a note dated Wednesday.

Spot silver XAG= edged 0.1% lower to $89.29 per ounce, after climbing to a three-week high on Wednesday.

Spot platinum XPT= added 0.3% at $2,292.83 per ounce, while palladium XPD= lost 0.2% to $1,791.79. Both metals hit three-week highs in the previous session.