Gold and Silver futures posted significant gains in February with the March contract rising nearly 11 percent. Prices reached the highest weekly close in history as the market accounted for a risk premium amid intensifying geopolitical tensions and international deadlines. A slight downtrend in the U.S. dollar provided an additional tailwind for the metal complex. Furthermore, the 10-Year Treasury yield dropped below 4% on Friday, interrupting a recovery in the dollar that had been in place since late January. These converging factors supported the price of gold as it maintained a strong upward trajectory through the end of the session.
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