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Commodities

Gold Prices Rise on Safe-Haven Demand

Guavy AI Editorial Team
Instruments
Gold
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Gold prices rose on August 27 as safe-haven demand continued to support macroeconomic developments.

The COMEX gold futures increased by 0.65% to $4,683.70 per ounce, while silver saw a gain of 1.57% to $69.09 per ounce in the morning trade.

Jateen Trivedi, VP Research Analyst at LKP Securities, noted that some technical profit booking is likely at higher levels due to gold's nearly 15% rally in August.

The broader trend remains positive as long as COMEX holds $4,500 and MCX holds Rs 1,57,000, according to Trivedi.

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