Gold stabilizes, silver jumps 6%

Gold bars

Gold prices were steady on Monday after volatile trading, while silver surged as investors assessed developments in the US–Iran conflict alongside inflation and global economic outlook concerns.

Gold futures for June delivery were unchanged at $4,728.70 per ounce, after rising 1.85% last week.

Silver futures for May delivery jumped 6.33%, or $5.09, to $85.485 per ounce, extending gains for a fifth consecutive session.

Gold prices fluctuated as investors weighed positioning ahead of key US inflation data due this week, against concerns over persistent inflationary pressures. Sentiment was also impacted after former US President Donald Trump rejected Iran’s latest proposal, raising fears of a prolonged conflict.

Markets are also watching Trump’s planned visit to China this week for talks with President Xi Jinping, with discussions expected to cover trade relations, Iran, Taiwan, artificial intelligence, and nuclear weapons.