Gold, silver prices rally as oil prices inch down

International futures prices of gold and silver rose on Thursday as a decline in oil prices eased concerns of investors over growing inflation.

Gold futures for June delivery on the New York Mercantile Exchange rose 0.35 percent to 4,710.9 U.S. dollars per ounce, while silver futures for July delivery climbed 3.72 percent to 80.180 U.S. dollars per ounce.

Shanghai will host one stop of the expanded Olympic Q-Series in 2028, the International Olympic Committee announced on Thursday, as the qualification event makes a return to the city that hosted the inaugural edition in 2024.

The four-stop series, formerly known as the Olympic Qualifier Series, will take place between May and June 2028 in Tokyo, Shanghai, Montreal and Orlando. Shanghai's stop is scheduled for May 11 to 14, one week after the opening event in Tokyo.

The Olympic Q-Series will feature six sports: 3x3 basketball, beach volleyball, BMX freestyle, climbing, flag football and skateboarding. The sports program for each stop will be confirmed at a later date.

The expanded series builds on the success of the inaugural Olympic Qualifier Series in 2024, which included stops in Shanghai and Budapest and featured multiple sports in compact, festival-style urban settings.

The 2028 edition will open in Tokyo from May 4 to 7, a city where 3x3 basketball, BMX freestyle, climbing and skateboarding made their Olympic debuts at the Tokyo 2020 Games. After Shanghai, the series crosses to Montreal from June 1 to 4 at the 1976 Olympic Park, before concluding in Orlando from June 8 to 11.

The Olympic Q-Series serves as a key qualification pathway for the LA28 Olympic Games, offering athletes a decisive opportunity to secure direct quota places shortly before the Games begin.