Precious Metals Weekly Loss: Gold, Silver Slip on Strong Dollar
Gold and silver are heading for a metals weekly loss after a volatile trading week. However, both metals recovered some ground on Friday as markets steadied. Spot gold rose 0.4% to $4,790.80 per ounce. Despite the bounce, the metal remained down 1.4% for the week. In addition, U.S. gold futures for April delivery slipped 1.7%.
Silver showed sharper swings during the session. It traded near $71.32 per ounce after a steep drop earlier in the day. As a result, the metal was set for its second straight weekly decline.
Tech Selloff Hurts Risk Sentiment
Global tech stocks faced heavy selling pressure. Therefore, overall risk appetite weakened across markets. Analysts said the broader mood turned cautious. Stocks dropped, while cryptocurrencies also saw sharp losses. In this climate, gold stayed relatively stable, but silver fell harder. Market experts noted that silver often reacts more to risk sentiment. Because of this, it tends to see larger swings during market stress.
Dollar Strength Adds Pressure
The U.S. dollar held near a two week high. As a result, it was on track for its strongest weekly gain since November. A stronger dollar usually makes metals more expensive for overseas buyers. Therefore, demand can weaken when the greenback rises. Investors still expect at least two interest rate cuts from the Federal Reserve in 2026. Lower rates often support non-yielding assets like gold. However, that support has not yet offset recent market pressures.
Other Metals Also Slip
Platinum dropped 4.7% to $1,892.74 per ounce. This fall came after it touched a record high in late January. Palladium, on the other hand, gained 0.8% to $1,628.95. Even so, both metals remained down for the week. Analysts believe volatility may continue in the near term. For example, banks warn that high silver valuations could trigger sharper corrections during risk-off periods.
