April gold futures gained 3.41%, or $150.3, to settle at $4,552.3 an ounce
Gold and silver prices rose at Wednesday’s close, supported by lower oil prices that helped ease inflation concerns and tempered expectations for further interest rate hikes, despite ongoing uncertainty surrounding the Middle East conflict.
April gold futures gained 3.41%, or $150.3, to settle at $4,552.3 an ounce.
March silver futures rose 4.46%, or $3.087, to $72.361 an ounce, marking a second consecutive session of gains.
Analysts said gold’s rebound reflects a technical recovery, supported by cautious optimism that hostilities in the Middle East may ease, which has also helped relieve pressure on oil prices, according to Reuters.
The moves come after reports that the United States sent a 15-point proposal to Iran aimed at ending the war, which Tehran has rejected.
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