Gold prices rose on Thursday (March 9) due to a weaker US dollar, as investors kept a close eye on the release of US nonfarm payrolls data.
- Gold futures were up $16 or 0.88% to $1,834.60 per ounce at the close.
- Silver futures rose 1.40 cents or 0.07% to $20.165 per ounce.
- Platinum futures rose $8.70 or 0.92% to $949.30 per ounce.
- Palladium futures also rose by $12.60 or 0.9% to settle at $1,374.70 per ounce.
The decline of the dollar index, which was down 0.34% at 105.3021 overnight, supported the gains in gold futures.
The US dollar weakened after the Labor Department reported that initial jobless claims rose 21,000 to 211,000 last week, the highest level in 10 weeks and above analysts’ expectations of 195,000.
Investors are now waiting for the release of US nonfarm payrolls figures for February. Analysts expect employment to have increased by 205,000 in February, following a surge of 517,000 jobs in January.
The Spot Market is Open
Friday, March 10, 2023
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 12.10 | 1,829.20 1,830.20 | -2.10 -0.11% | 1,827.40 1,835.70 |
| Silver 12.10 | 19.92 20.01 | -0.14 -0.70% | 19.86 20.22 |
| Platinum 12.10 | 934.00 944.00 | -10.00 -1.06% | 933.00 956.00 |
| Palladium 12.10 | 1,322.00 1,472.00 | -2.00 -0.15% | 1,316.00 1,528.00 |
| Rhodium 06.00 | 8,500.00 10,500.00 | 0.00 0.00% | 8,500.00 10,500.00 |