Gold and Silver Prices Rise Amid Global Economic Uncertainty
Gold and silver prices rose on Wednesday as investors sought safe-haven assets due to global economic uncertainty and expectations of slower US interest-rate hikes. On the New York Mercantile Exchange, gold futures for December delivery increased by 0.59% to settle at $4,467.50 per ounce, while silver futures for September delivery gained 1.18% to close at $65.700 per ounce.
Analysts attributed the gains to safe-haven demand amid global economic uncertainty and expectations of slower US interest-rate hikes. Silver also tracked industrial metals higher on signs of stronger manufacturing demand.