Gold rises amid market turbulence as silver swings sharply, CME raises margins, and investors seek safe havens during global stock selloffs

Gold prices climbed sharply on Friday while silver experienced extreme swings, reflecting heightened volatility in global markets. The movements followed a selloff in equities as investors sought refuge amid uncertainty.

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By 05:52 GMT, spot gold rose 2.3% to $4,879.45 per ounce, up 0.3% for the week.

U.S. gold futures for April delivery edged up 0.2% to $4,897.20 per ounce, reinforcing gold’s role as a safe-haven asset during turbulent trading conditions.

Silver, in contrast, surged 3.8% to $73.91 per ounce after plunging roughly 10% earlier in Asian trade.

The metal has faced significant pressure in recent weeks, dropping more than 13% for the week, following an 18% fall the previous week its steepest weekly decline since 2011.

China’s UBS SDIC Silver Futures Fund also hit its 10% daily limit, marking its sixth consecutive session of decline.

Market analysts attributed the swings to deteriorating risk sentiment. Ilya Spivak, head of global macro at Tastylive, said: “In this environment, gold is holding its own while silver is caving in under the risk-off mood.”

The CME Group responded to the turbulence by raising margin requirements for gold and silver contracts for the third time this year, aiming to reduce risk amid volatile trading.

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Other precious metals saw modest gains on Friday, with spot platinum rising 0.4% to $1,993.95 per ounce and palladium climbing 2.2% to $1,651.74, though both remain set to end the week lower.