Gold and Silver Rise Following U.S. Decisions
Gold and Silver Rise Following U.S. Decisions
Gold and silver prices opened the new week with strong gains amid developments in the United States, including a U.S. Supreme Court decision and ongoing geopolitical tensions between Washington and Iran. A weaker dollar has provided additional support to precious metals.
Latest Gold Prices
After reaching $5,176 per ounce earlier in the morning, gold was trading at $5,164 as of 07:30, marking a 1.3% increase compared to the previous level.
The price of one gram of gold stood at 7,274 Turkish liras, up 1.2%.
Silver, Platinum and Palladium
Spot silver rose to $87.30, gaining 3.25% and hitting a two-week high.
Platinum traded at $2,182.
Palladium stood at $1,753.
What Is Driving the Rally?
The U.S. dollar index declined after the U.S. Supreme Court overturned global tariffs previously introduced by President Donald Trump. A weaker dollar typically boosts demand for precious metals by making them more attractive to investors.
Ongoing geopolitical tensions between the United States and Iran have also increased interest in safe-haven assets.
Additionally, markets expect the U.S. Federal Reserve to cut interest rates twice this year. In a lower-rate environment, gold becomes more appealing as a store of value.
Analysts note that future price movements will largely depend on Federal Reserve policy, the direction of the dollar and further geopolitical developments.
Key levels (07:30 GMT)
- Gold (oz): $5,164 ▲ 1.3%
- Gold (gram, TRY): 7,274 ▲ 1.2%
- Silver: $87.30 ▲ 3.25% (2-week high)
- Platinum: $2,182
- Palladium: $1,753
