Precious Metals Rise, But Remain Negative for the Week

Gold futures rose intraday but finished the week lower as inflation concerns weighed on precious metals. Front‑month Comex gold closed up about 0.4% at $4,722.30/oz for the day but ended the week down roughly 2.8%, snapping a three‑week winning streak and marking the largest weekly decline since March 20, 2026. Silver rallied 1.2% on the day to $76.383/oz but slumped about 6.6% for the week. Markets gave gold and silver a late‑week lift after the Department of Justice dropped its probe into Fed Chair Jerome Powell—a development analysts said could ease the path for a potential Fed chair change and bolster bullion demand—yet weekly losses underscore persistent inflation worries and profit‑taking. Overall market tone is mixed: short‑term upticks amid broader weekly weakness.