Dubai [UAE], February 7: Gold regained upward momentum toward the end of the week, climbing over above $4,963 per troy ounce level at the time of publishing and turning focus to the key $5,000 threshold.
The advance reflects a change in risk sentiment, with investors rotating back into traditional safe-haven assets, lending support to the precious metal.
Earlier in the day, the US dollar index slipped 0.3 percent, making dollar-denominated gold cheaper for overseas buyers. Gold, a traditional safe-haven asset, typically benefits during periods of geopolitical and economic uncertainty.
Spot silver surged 5.3 percent to $74.98 per ounce after earlier dropping below $65 during Asian trading.
Despite the rebound, silver remains on course for its steepest weekly decline since 2011, down more than 10.6 percent, following sharp losses last week.
Platinum rose 3.2 percent to $2,052 per ounce, while palladium gained 4.9 percent to $1,695.18. Both metals, however, are set to record weekly declines.
Source: Emirates News Agency
