Muscat: Gold and silver prices extended their gains in early Asian trading today, buoyed by a weaker US dollar, while investors looked ahead to a key US jobs report later this week for clues on the future path of interest rates. Spot gold rose 1.4% to $5,029.09 an ounce, after surging nearly 4% in the previous session. US gold futures for April delivery also advanced 1.4% to $5,051.00 an ounce. Spot silver jumped 2.5%, following a sharp 10% rally on Friday. Among other precious metals, spot platinum gained 1.8% to $2,134.18 an ounce, while palladium rose 1.8% to $1,737.75 an ounce.

According to Oman News Agency, the weakening dollar has been a significant factor in the recent surge in gold and silver prices. A depreciating dollar often makes commodities priced in the currency more attractive to investors holding other currencies. As the market anticipates the upcoming US jobs report, there is heightened attention on potential signals regarding future interest rate movements, which could further influence the demand and pricing for precious metals.