Silver Rises.. Gold Recovers and Heads Towards Weekly Gains

SadaNews Economy - Gold recovered some of its losses after a sudden sell-off in the previous session, as buyers rushed to seize the dip ahead of the release of key U.S. inflation data.

The precious metal rose by 1.4% on Friday after losing 3.2% in the previous session, marking the largest daily decline of the week.

Spot gold increased to $4,982.59 per ounce, achieving weekly gains of about 0.4% so far. Meanwhile, U.S. gold futures for April rose 1.1% to $5,001.80 per ounce, according to CNN.

Spot silver also climbed 2.5% to $77.02 per ounce, recovering from a sharp drop of 11% on Thursday; however, it is still set to record a weekly loss of 1.2%.

Similarly, platinum increased by 1.7% to $2,034.41 per ounce, and palladium rose 2.2% to $1,653, with both metals expected to record weekly losses as well.