Silver Hits $53 — Up 3.4% in 24 Hours 
Gold prices are holding near record levels, trading at $2,942.92 an ounce on Thursday—just $13 shy of February’s all-time high. The precious metal has gained 12% this year, bolstered by uncertainty surrounding President Trump’s tariff policies and expectations of Federal Reserve interest rate cuts. Despite unchanged producer prices in February and falling jobless claims, analysts predict gold will reach $3,000-$3,200 this year as the Fed is expected to resume cutting rates in June, which typically benefits gold by reducing opportunity costs.
The Federal Reserve is expected to hold its current 4.25%-4.50% interest rate range next week, having already cut rates by 100 basis points since September. Analysts anticipate rate cuts will resume in June, potentially boosting gold by reducing the opportunity cost of holding this non-yielding asset. Meanwhile, other precious metals declined, with silver down 0.6%, platinum falling 1.3%, and palladium dropping 0.6%.
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