Gold, Silver Rates Today LIVE: Gold and silver prices traded lower on Thursday, weighed down by a firmer dollar, while higher crude oil prices renewed inflation worries and dampened hopes for near-term interest rate cuts.
Spot gold price fell 0.2% to $5,165.73 per ounce, while US gold futures for April delivery declined 0.2% to $5,171.40 an ounce. Spot silver price was steady at $85.82 per ounce.
The US dollar firmed 0.2%, making dollar-priced commodities like bullion more expensive for holders of other currencies.
Meanwhile, crude oil prices jumped, adding to inflation pressures. The US consumer price index rose 0.3% in February, matching forecasts and accelerating from January’s 0.2% increase. CPI rose 2.4% in the year to February, also in line with expectations.
In other commodities, spot platinum price gained 0.3% to $2,175.32 and palladium prices rose 0.6% to $1,646.17.
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