Precious Metals Rebound After Yesterday's Slump

On Thursday, the prices of precious metals experienced a rebound following the previous day's decline. Gold, in particular, saw an increase of over 1%. This recovery comes as reactions to the United States Federal Reserve meeting have started to settle.

The recent Fed economic projections initially caused market turbulence. The central bank now anticipates cutting interest rates by 0.25 percentage points only twice in the upcoming year, contrasting with the previous estimate of four times. Today, the focus shifts to the US gross domestic product figures.

At 2:34 am ET, gold surged 1.12%, trading at $2,621.30. Silver also advanced by 0.49%, selling at $29.62. Platinum gained 1.06%, trading at $931.32, while palladium rose 0.22%, selling at $904.25.