Gold and Silver Prices Rise Amid Geopolitical Tensions and Inflation Report Uncertainty
Gold and silver prices rose on August 12 as geopolitical tensions and uncertainty ahead of the US inflation report supported demand for precious metals.
The price of gold futures increased by 0.35% to $4,456.70 an ounce, while silver gained 0.49% to $65.25 an ounce.
Geopolitical developments involving Iran, the US and Yemen-aligned Houthis, alongside a North Korean missile launch, kept safe-haven demand in focus and added to concerns over energy supplies through the Strait of Hormuz.
The US inflation report is expected to be released on August 12 and could influence expectations around the Federal Reserve's interest-rate path.