Spot gold prices climbed on Friday morning, rebounding from a two-week low as buyers stepped in following recent declines. Spot gold is trading at $3,257.60 per ounce, up $9.16 on the day. This upward movement comes after gold had lost over 2% earlier in the week, pressured by easing US-China trade tensions and profit-taking. However, bargain hunting ahead of key US jobs data and renewed retail interest provided support, helping gold recover some ground despite the metal being on track for its worst weekly performance in more than two months. Analysts note that the absence of Chinese traders due to the Labor Day holiday has contributed to heightened volatility, but global demand remains resilient.
Silver spot prices also saw modest gains, with the metal trading at $32.24 per ounce, down $0.13. Like gold, silver rebounded after a sharp correction earlier in the week, supported by continued strong physical demand and robust sales during recent festivals in major markets such as India. The gold/silver ratio remains elevated, reflecting gold’s relative strength over silver in recent sessions. Overall, both metals are experiencing choppy trading conditions, but today’s session has seen a clear rebound in spot prices as investors look for value opportunities and await further economic signals.
