On March 4, gold and silver prices opened higher with a rebound. As of 7:25 Beijing time, spot gold rose above $5100, currently trading at $5123.26 per ounce, up 0.68% for the day. Spot silver climbed above $82 per ounce, gaining 0.54% intraday.
After four consecutive days of gains, gold prices experienced a sharp decline, primarily influenced by a stronger US dollar, persistent high inflation, and escalating conflicts in the Middle East. On the evening of March 3, spot gold fell by over 5%, plummeting by $233 in a single session and briefly dropping below $5020 per ounce. Spot silver also saw a significant drop, plunging more than 12% and falling below $78 per ounce.
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