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Gold and Silver Prices Rise as Oil Prices Plummet Amid Iran-US Conflict Hopes

Guavy AI Editorial Team
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Gold and silver prices are experiencing a rally on Monday, buoyed by a weaker US dollar and lower Treasury yields. Spot gold is trading at $4,104 per ounce while COMEX gold futures rose to $4,102.10 per ounce, up 0.77% in the latest trade.

Silver also saw gains with COMEX silver gaining 1.59% to $59.845 per ounce. The recent rally in precious metals comes after a sharp fall in oil prices amid hopes that the Iran-US conflict may not escalate further.

A senior Iranian official told Reuters that Tehran would stop its attacks if the US refrains from further strikes, and the US has paused its bombing campaign, easing concerns that inflation could keep rates elevated.

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