Gold Prices Rise Supported by the Decline of the US Dollar

Gold prices have seen a notable rise in the markets, trending towards weekly gains due to strong buying demand and the decline of the US dollar.

Significant Gains for Spot and Futures Gold

Spot gold rose by 3.9% to reach $4,954.92 per ounce, while US futures contracts increased by 1.8% to $4,979.80 per ounce.

Strong Growth in Silver and Other Precious Metals

Meanwhile, the price of spot silver surged by 8.6% to $77.33 per ounce. Platinum jumped by 5.4% to $2,093.50 per ounce, and palladium rose by about 7% to settle at $1,737.01 per ounce.