Gold and Silver Prices Surge on Safe-Haven Demand

Gold and silver prices have risen in early trade on August 27. The precious metals continue to find support from safe-haven demand and broader macroeconomic uncertainty.

In international markets, COMEX gold futures rose 0.65% to $4,683.70 per ounce around 02:50 GMT. Silver also climbed 1.57% to $69.09 per ounce.

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, the broader trend remains positive as long as COMEX gold holds $4,500 and MCX gold holds Rs 1,57,000.

Trivedi also identified upcoming US GDP data and developments related to the US-Iran situation as important triggers for bullion prices. Gold has already gained nearly 15% in August, according to Trivedi.