Gold prices moved higher for the second consecutive session as a weaker US dollar improved the appeal of precious metals. Investors are also closely watching upcoming US inflation data, which could influence the Federal Reserve’s next interest-rate decision.
International gold prices gained, while silver also moved higher. A softer dollar generally makes dollar-priced commodities more attractive for buyers holding other currencies. However, bullion markets remain volatile due to changing expectations regarding US interest rates.
Geopolitical tensions have also supported safe-haven demand. With the Middle East situation remaining uncertain and important US inflation data approaching, gold and silver could continue to witness sharp movements in the coming days.
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