Gold and silver rose on Friday, even as they headed for a second week of declines after a global tech stock rout and a stronger U.S. dollar wiped out the precious metals’ gains made during a brief rebound earlier this week.
Spot gold rose 1.1% to $4,822.69 U.S. per ounce early Friday, down 1.2% for the week. U.S. gold futures for April delivery fell 1% to $4,840.40 per ounce.
Spot silver was up 0.4% at $71.50 U.S. an ounce after a 19.1% drop in the last session.
Friday’s session was a volatile one for silver with prices rising as much as 3% after having fallen 10% to below the $65-level, a more-than-one-and-half-month low.
The white metal was down almost 16% for the week. Last week it shed 18% in its biggest weekly fall since 2011.
Spot platinum fell 3.6% to $1,916.60 U.S. per ounce after hitting an all-time high of $2,918.80 on January 26, while palladium gained 1.4% to $1,639.18. Both were down for the week.
