Gold jumps to $5,000 as silver rallies after volatile week

Gold prices climbed in Asian trading on Monday, with silver also advancing after precious metal markets experienced sharp volatility last week amid weaker safe-haven demand, profit-taking, and heightened uncertainty over U.S. monetary policy.

This week’s focus is on a series of key U.S. economic releases—most notably nonfarm payrolls and consumer price index inflation data—which are expected to offer fresh signals on the outlook for the world’s largest economy. Demand for haven assets eased as the United States and Iran showed signs of progress in weekend talks, with both sides agreeing to continue negotiations over Tehran’s nuclear program.

Spot gold rose 0.7% to $4,996.47 an ounce by 20:49 ET (01:49 GMT), after briefly touching an intraday high of $5,046.79. April gold futures gained 0.8% to $5,016.21 an ounce.

Spot silver jumped 3.3% to $80.5330 an ounce, extending its rebound from lows near $60 an ounce seen last week. Platinum underperformed, slipping 2.3% to $2,068.45 an ounce.

Precious metals saw sharp swings last week as investors weighed the outlook for U.S. monetary policy under President Donald Trump’s nominee for Federal Reserve chair, Kevin Warsh. His nomination boosted the dollar, triggering broad selling across metal markets as traders also took profits after strong recent gains in gold and silver.

So far in 2026, gold and silver remain up about 15% and 5%, respectively, despite both metals retreating sharply from record highs reached in early February.

Sources: Ambar Warrick