Gold’s Cheaper Precious-Metal Peers Surge to Multi-Year Highs

Silver extended gains to 13-year highs and platinum reached the highest since early 2022, signaling growing investor appetite for precious metals used in key industries.

Spot prices for both metals continued to rally on Friday after spikes of more than 4% in the previous session. Gold slipped as bond yields and the dollar pushed higher after a slightly-better-than-expected jobs report prompted traders to trim bets that the Federal Reserve will cut interest rates twice this year.