Gold and silver prices surged on Thursday, marking the strongest single-session performance for the precious metals in weeks.
The rally was driven by a shift in market sentiment as Federal Reserve remarks helped ease fears of imminent interest rate hikes, allowing the dollar to slip from a 14-month high.
Gold rose approximately 2.3% during the session, while silver jumped 3.8%, outpacing its yellow-metal counterpart.
The move provided a reprieve for investors who have seen precious metals endure their worst quarterly performance in years.
The rebound signals that safe-haven demand is returning as the immediate threat of tighter monetary policy recedes.
The dollar’s retreat from its recent peak reduced the opportunity cost of holding non-yielding assets, providing a tailwind for both gold and silver.