Precious metals rise as Fed hints 'skipping' June rate hike
Prices of precious metals rose on Thursday as the likelihood of the Federal Reserve leaving its monetary policy unchanged at its next meeting grew after its officials signaled that "skipping" interest rate hike this month could be a more favorable decision.
Meanwhile, investors dissected the latest slew of data on the United States labor market, while awaiting the key nonfarm payrolls release, scheduled to come out on June 2.
Gold was up by 0.93% to sell at $1,980.88 per ounce at 11:43 am ET. At the same time, silver jumped 1.61% to $23.89 per ounce. Platinum gained 1.58% to go at $1,014.38 per ounce, and palladium added 1.61%, trading at $1,381.17 per ounce.