Gold and silver prices traded higher in Wednesday's session, marking a reprieve for precious metals after they posted their worst quarterly performance in years.
The rebound was driven by a shift in market sentiment as fears of an imminent US Federal Reserve rate hike subsided following the release of weaker-than-expected US jobs data.
Comex gold futures climbed to an intraday high of $4,111 per troy ounce, extending a second consecutive session of gains.
Comex gold futures climbed to an intraday high of $4,111 per troy ounce, extending a second consecutive session of gains.
The move came as the US dollar softened, providing temporary relief to the precious metal sector which had been under pressure from a strengthening greenback and rising expectations of tighter monetary policy.
Silver futures also participated in the rally, tracking gold's upward momentum.
The market repricing reflects a recalibration of rate expectations.