Gold rises as silver tops $63 an ounce

February 2026 gold futures rose 0.3% to $4,236.1 an ounce

Gold prices climbed, and silver reached a new record level, following the widely expected 25-basis-point rate cut by the Federal Reserve.

During Thursday trading, February 2026 gold futures rose 0.3%, or $11.9, to $4,236.1 an ounce.

Meanwhile, spot gold declined 0.35% to $4,214.38 an ounce, while spot silver added about 0.15% to $61.89 an ounce.

March 2026 silver futures jumped 1.8% to $62.14 an ounce, after touching an all-time high of $63.25.

The dollar index, which tracks the US currency against a basket of six major currencies, was largely unchanged at 98.75 points as of 09:24 a.m. Mecca time.

Spot platinum prices rose 0.35% to $1,664.39, and palladium added 0.2% to $1,475.5.

A statement released after the Fed meeting on Wednesday indicated that borrowing costs may not fall further for now, as the central bank will take a “wait-and-see” approach until clearer signs emerge of a slowing labor market and easing inflation, which “remains somewhat elevated.”