#GoldSilverRally
Gold prices rose in Asian trading on Monday, while silver also gained after sharp swings in the metals market last week amid weak demand for safe-haven assets, profit taking, and heightened uncertainty over US monetary policy.
A number of key US economic indicators will be in focus this week, primarily non-farm payrolls and consumer price index data, which will provide more insight into the health of the world's largest economy.
Safe-haven demand for metals weakened as the US and Iran reportedly made some progress during weekend talks, with both sides committing to continue discussing Tehran's nuclear ambitions.
Spot gold prices rose 0.7% to $4,996.47 per ounce by 1:49 AM Moscow time, briefly reaching an intraday peak of $5,046.79 per ounce. Gold futures for April delivery rose 0.8% to $5,016.21 per ounce.
Spot silver rose 3.3% to $80.5330 per ounce, continuing its recovery from lows near $60 per ounce reached last week, while spot platinum lagged, falling 2.3% to $2,068.45 per ounce.
Precious metals markets saw sharp fluctuations last week as traders worried about the prospects for U.S. monetary policy under President Donald Trump's nominee to become the next Federal Reserve Chairman, Kevin Warsh.
Warsh's election triggered a rebound in the dollar, which in turn triggered a wave of selling in precious metals markets, with traders also noting the recent significant gains in gold and silver prices.
Since the beginning of 2026, gold and silver have risen by 15% and 5%, respectively. Both metals have fallen from record highs in early February.
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