Gold and Silver Prices Surge Amid Geopolitical Risks and Soft US Economic Data

Gold and silver prices rose on August 17 as investors tracked interest-rate expectations, bond yields, the dollar, and ongoing geopolitical risks. On COMEX, gold was trading at $4,451.30 an ounce, up $14 or 0.32% from its previous close of $4,440 an ounce.

The metal touched an intraday high of $4,473.20 an ounce and a low of $4,422.30 an ounce. Silver gained more sharply, reaching $65.845 an ounce on COMEX, up $0.737 or 1.13% from its previous close of $65.060 an ounce.

Tata Mutual Fund noted that gold's near-term price movements may remain volatile as investors assess interest rates, the dollar, and bond yields. However, it retained a constructive medium- to long-term view on gold due to central-bank buying, investment demand, and portfolio diversification.