NEW YORK: Gold prices rose on Friday, March 13, 2026, as a softer U.S. dollar and easing U.S. Treasury yields lifted demand for bullion in early trade. Spot gold was up 0.7% at $5,112.82 an ounce by 4:11 a.m. GMT. The move followed a volatile week for precious metals as investors weighed currency swings, shifts in bond yields and energy-driven inflation concerns across global markets.
U.S. gold futures for April delivery slipped 0.2% to $5,116.30, diverging from the spot market even as both remained near record levels. Bullion typically benefits when the dollar weakens because it becomes cheaper for buyers using other currencies, and when yields fall because gold offers no interest. Traders also monitored broader risk sentiment as commodities markets reacted to sharp moves in crude oil.
Despite Friday’s gain, gold remained set for a second straight weekly decline, down more than 1% for the week. A surge in oil prices above $100 a barrel kept inflation in focus and weighed on confidence that U.S. interest rates could move lower soon. Higher interest rates tend to reduce the appeal of non-yielding assets, while rising energy costs can feed inflation expectations and amplify day-to-day market sensitivity to economic data.
Oil and geopolitics in view
Crude’s rally was linked to heightened tensions in the Middle East after reports of attacks on oil tankers in the Gulf and renewed concerns about supply disruptions. Iran said on Thursday that Tehran would keep the Strait of Hormuz closed, drawing market attention to the strategic shipping route used for significant global energy flows. The oil move added another variable for investors tracking inflation pressures alongside the usual drivers of bullion, including the dollar and benchmark yields.
In the United States, President Donald Trump again publicly urged Federal Reserve Chair Jerome Powell to cut interest rates, keeping attention on the central bank’s next decision. Traders largely expected the Federal Reserve to leave its policy rate unchanged in a 3.5% to 3.75% range at the conclusion of its March 18 meeting, based on probabilities shown by the CME FedWatch tool. Treasury yields eased modestly ahead of the decision, offering support to gold during the session.
Inflation data and metals market moves
Investors were also focused on the delayed release of the January Personal Consumption Expenditures price index, due later Friday, a closely watched U.S. inflation gauge for the Federal Reserve. The data point has been a key input for rate expectations and can influence both the dollar and bond yields, two variables that often set the tone for bullion prices. Market participants tracked the inflation release alongside ongoing moves in energy, which have remained sensitive to geopolitical developments.
Other precious metals advanced alongside gold. Spot silver rose 1% to $84.59 an ounce, platinum climbed 1.2% to $2,157.20 and palladium gained 1.1% to $1,636.27. The broad rise reflected the same support from a softer dollar and lower yields, even as the weekly picture for gold remained negative. Gold remained set for a weekly drop even after Friday’s bounce as investors tracked oil, rates and inflation signals. – By Content Syndication Services.