Precious metals prices climbed on Thursday, buoyed by a weaker U.S. dollar. The dollar’s decline made metals more appealing to investors holding other currencies, contributing to increased demand.

Gold Shines

Gold futures for August delivery rose $13.30 to $931.50 an ounce on the Comex division of the New York Mercantile Exchange. Spot gold was bid at $930.80 an ounce at 2:19 p.m. EDT, up from $917.90 late in New York on Wednesday.

Silver Surges

Silver also saw significant gains, with July silver rising 64 cents to $18.06 an ounce.

Other Metals Gain

Platinum and palladium also joined the rally.

Factors Influencing the Market

• Dollar Weakness: The primary driver behind the metals’ rally was the weaker U.S. dollar.
• Investor Sentiment: Investors are closely watching economic data and currency movements, influencing trading activity.