Precious metals are recovering.. Gold and silver are rebounding with buying support

Gold and silver prices rebounded today, Friday, thanks to purchases after falling to their lowest levels in a week during the last session, when selling pressures increased after strong US jobs data limited expectations for a cut in interest rates.

By 01:27 GMT, gold rose in instant transactions by one percent to $4,966.83 per ounce, after falling by more than three percent yesterday, Thursday, to reach its lowest level in almost a week below the level of five thousand dollars.

US gold futures for April delivery gained 0.7 percent to $4,985.40 per ounce.

The price of silver in spot transactions rose 2.1 percent to $76.76 per ounce, after it fell 11 percent on Wednesday.

The dollar saw little change against major currencies yesterday, Thursday, maintaining its stability after conflicting signals from the latest US economic data.

The rise in the dollar increases the cost of metals denominated in the US currency for holders of other currencies.

Data issued on Wednesday showed that the US labor market started 2026 stronger than expected, which reinforces speculation that interest rates will remain high for a longer period.

The number of non-farm payrolls increased by 130,000 in January after a downwardly revised increase of 48,000 jobs in December. The unemployment rate fell to 4.3 percent.

Data yesterday, Thursday, showed that unemployment aid applications submitted for the first time fell to 227,000 applications in the week ending February 7th.

Investors are now awaiting the inflation data scheduled to be released later today to obtain more indications about the course of the monetary policy of the Federal Reserve (the US central bank).

As for other precious metals, platinum in spot transactions increased 1.7 percent to $2,033.15 per ounce, and palladium rose 1.4 percent to $1,639.99.