Post by : Badri Ariffin

Gold experienced a slight decline on Friday, trading at approximately $4,590 per troy ounce during our report. This drop was attributed to a rise in US dollar strength and the easing of geopolitical tensions.

As of 15:48 GMT, spot gold prices fell 1% to $4,567.89 per ounce. Despite this decrease, gold is still positioned for a second consecutive weekly increase, having reached a record high of $4,642.72 on Wednesday.

US gold futures scheduled for February delivery also decreased, dropping 1.1% to $4,570.90 per ounce.

In the realm of other precious metals, spot silver saw a significant decline of 4.5%, settling at $88.14 per ounce. Nevertheless, silver remains robust on a weekly basis, anticipated to achieve gains exceeding 10% after hitting an all-time high of $93.57 in a prior session.

Platinum dropped by 4.7% to $2,296.75 per ounce, though it is still set for weekly gains. Additionally, palladium fell 3.1% to $1,744.95 per ounce.

On a different note, US stock markets opened positively as chipmaker stocks regained momentum amid a turbulent trading week. At the opening bell, the Dow Jones Industrial Average was up by 24.3 points (0.05%) at 49,466.7. The S&P 500 rose by 16.1 points (0.23%) to 6,960.54, while the Nasdaq Composite climbed 109.7 points (0.47%) to 23,639.687.

#Global News