Gold prices rose on Thursday as a retreating US dollar provided support to precious metals, while oil futures saw modest gains following a sharp sell-off in the previous session.

In spot markets, gold climbed 0.3% to $4,692 per ounce at the time of publishing, while US gold futures for June delivery remained steady at $4,706.90.

The movement in other precious metals was mixed; platinum gained 0.7% to reach $2,151.38 and palladium rose 0.4% to $1,506.19. Conversely, silver fell 0.4% to trade at $87.64 per ounce.

In energy markets, Brent crude futures rose by 13 cents, or 0.12%, to $105.76 a barrel. US West Texas Intermediate (WTI) crude edged up 12 cents to $101.14 a barrel. The slight recovery follows a volatile Wednesday session where Brent plunged by more than $2 and WTI dropped by over $1.