Gold, Silver Rates Today LIVE: Gold and silver prices traded higher on Wednesday, supported by a soft dollar and easing concerns over surging inflation and high interest rates, as crude oil prices slipped after reports of a US plan to end the Iran war in the Middle East.
Spot gold prices rallied 2.1% to $4,568.29 per ounce, while US gold futures for April delivery gained 3.8% to $4,569.40. Gold prices are trading around 17% below pre-conflict levels
Spot silver prices rose 3.8% to $73.94 per ounce.
The dollar eased, making greenback-priced bullion cheaper for holders of other currencies. Crude oil prices also fell below $100 a barrel, easing inflation concerns, on reports that the US has sent Iran a 15-point plan to end the war in the Middle East.
Interest rate futures have erased any prospect for a US Federal Reserve rate cut this year, according to CME Group’s FedWatch tool.
Stay tuned to this segment for the latest updates on gold and silver prices.
