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Silver touches over 13-year high

June 07, 2025

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Gulf Today

LONDON: Gold firmed on Friday, and was poised for a weekly rise after US data this week boosted interest rate cut hopes by the Federal Reserve, while silver hit a more than 13-year high.

Silver touches over 13-year high

Spot gold was up 0.4 per cent at $3,367.45 an ounce, as of 0854 GMT. Bullion has gained 2.4 per cent for the week so far.

US gold futures climbed 0.5 per cent to $3,390.70.

"The disappointing jobless claims data, indicating potential labour market weakness, has had a more substantial impact on gold prices than the optimism stemming from President Trump's call with President Xi," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany.

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