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Gold and silver prices surged on Thursday, fueled by a weakening US dollar and renewed investor demand for safe-haven assets. The decline in the dollar made precious metals more attractive to global buyers, igniting a strong rebound in both commodities after recent declines. Spot gold was up 0.24%, at $ 3986.52, and spot silver surged 0.34/%, at $ 48.20.
In India, gold prices climbed sharply as traders returned to the market following a midweek holiday, while silver also gained significantly. This momentum echoed global trends, where the dollar slipped after reaching a multi-month high earlier in the week. The greenback’s downturn—driven by concerns over slowing US economic growth and prolonged political gridlock—encouraged investors to seek security in gold and silver.
The ongoing US government shutdown, now the longest in history, has deepened uncertainty and weighed on investor confidence, further pressuring the dollar. As the currency weakened, gold benefited from its status as a universal store of value, while silver’s dual role as both an investment and industrial metal amplified its appeal.
Analysts note that the shift reflects a broader retreat from riskier assets and a renewed preference for tangible, stable investments. Upcoming remarks from Federal Reserve officials are also in focus, as any hints about future interest rate policies could influence both the dollar’s direction and bullion’s next move.
While some experts caution that short-term corrections are possible, the overall tone remains optimistic for gold and silver. With inflation pressures persisting and global markets on edge, the two metals continue to shine as symbols of safety amid an increasingly uncertain financial landscape.
