Gold, silver prices rise as dollar steadies

Gold and silver bars

Gold prices rose on Thursday as investors awaited further details on a potential peace agreement between the US and Iran.

June gold futures climbed 0.25%, or $12, to $4,706.30 per ounce.

Spot gold prices edged up 0.1% to $4,696.37 per ounce, while spot silver gained around 0.4% to $77.68 per ounce.

Meanwhile, the dollar index — which measures the US currency against a basket of six major currencies — was steady at 98.02 points as of 08:22 am Makkah time.

July silver futures rose 1.3% to $78.30 per ounce. Spot platinum fell 0.3% to $2,057.3 per ounce, while spot palladium advanced 0.35% to $1,540.49 per ounce.

Markets are currently awaiting the release of the US monthly jobs report on Friday to assess the resilience of the US economy and its ability to withstand the Federal Reserve’s monetary policies.