Gold, silver drop over 1%

April gold futures rose 0.33%, or $16.7, to $5,151.4 per ounce

Gold and silver prices ended Thursday's volatile trading lower, pressured by a stronger dollar and rising sovereign bond yields, amid concerns over the impact of the Middle East conflict on inflation and monetary policy.

April gold futures dropped 1.10%, or $56, to $5,078.70 per ounce, after earlier gains during the session.

March silver futures fell 1.14%, or $0.946, to $81.68 per ounce, marking a decline of 11.86% over the past four sessions.

The declines came as the Middle East conflict entered its sixth day, with intensified bombardment raising concerns over energy supplies, which supported oil prices and fed inflation expectations, weakening prospects for US interest rate cuts.

Precious metals were also under pressure from a stronger dollar, sought as a safe haven since the outbreak of the war, reducing expectations for US monetary easing, especially amid continued signs of labor market resilience.

Weekly jobless claims remained stable, contrary to expectations for an increase, and layoffs in February fell sharply. Despite gold’s role as a hedge, its performance tends to weaken when borrowing costs rise.