Gold, silver rise as US dollar falls

Gold bars

Gold and silver prices rose on Thursday, supported by a weaker US dollar amid cautious calm in geopolitical tensions, alongside the assessment of key US economic data.

Gold futures for June delivery increased by 0.85%, or $40.80, to $4,818 per ounce.

Silver futures for April delivery rose by 1.40%, or $1.053, to $76.277 per ounce, posting gains for the second consecutive session.

This came amid continued dollar weakness following the agreement between the US and Iran on a two-week ceasefire and the start of direct negotiations, despite Tehran accusing Washington of violating the truce.

The ceasefire renewed hopes for Federal Reserve interest rate cuts this year. However, the central bank warned in the minutes of its latest meeting, released yesterday, of rising short-term inflationary pressures due to the war’s repercussions.

Official data released today showed a decline in core Personal Consumption Expenditures (PCE) inflation—the Federal Reserve’s preferred inflation gauge—to 3% in February from 3.1% in the previous month, marking the last reading before the outbreak of the conflict.

Meanwhile, US economic growth for the fourth quarter of 2025 was revised downward for the second time, although full-year growth remained at 2.1%, down from 2.8% in the previous year.