#XAU Precious metals prices rose on global markets. Gold rose amid a weaker US dollar and lower US Treasury yields.
Spot gold prices rose 0.5% to $5,048.27 per ounce, while US gold futures for April delivery gained 0.8% to $5,072.60 per ounce.
Silver resumed its gains after falling in the previous trading session, with spot prices jumping 3.4% to $83.40 per ounce. Silver market movements were more volatile than gold, as is traditionally the case for this metal.
Overall, precious metals remain sensitive to macroeconomic signals from the US and expectations for the Federal Reserve's future monetary policy. #GoldSilverRally #XAU #GOLD $XAU $XAG
#GoldSilverRally #XAU Gold prices are showing moderate gains, holding above the psychological $5,000 per ounce mark. The main driver was weak US retail sales data, which fueled market expectations for further monetary easing by the Federal Reserve.
Details The spot price of the precious metal rose 0.3% to $5,038.66 after recent volatility. In late January, gold reached an all-time high of over $5,595 due to geopolitical instability and doubts about the Fed's independence, but subsequently underwent a technical correction. The metal has now recovered a significant portion of its losses, as investors once again see it as a safe haven amid stagnant consumer spending in the US. Lower borrowing costs traditionally have a positive effect on gold, as it does not generate interest income and is becoming more attractive compared to bonds. Federal Reserve Chair candidate Kevin Warsh supports further rate cuts, boosting confidence among bullion buyers. Along with gold, silver also rose, rising 0.6% to $81.30 per ounce.
Despite warnings from some Fed officials about a possible pause in rate adjustments, major banks maintain optimistic forecasts. Analysts at BNP Paribas SA expect the price to rise to $6,000 by the end of this year.
Goldman Sachs and Deutsche Bank share similarly positive expectations, arguing that the fundamental reasons for investors to shift away from traditional currency assets remain. $XAU