Precious Metals Sector Surges by Over 6% Amid Easing Geopolitical Tensions

The precious metals sector saw significant gains on August 5, rising by over 6% as geopolitical tensions eased and oil prices pulled back. This drove COMEX gold up 0.94% to $4,191.5/oz, while SHFE gold main contract rose 1.96% to 900.34 yuan/g.

Silver also saw a significant increase, with COMEX silver rising by 1.4% to $61.09/oz and SHFE silver main contract up 5.35% to 14,860 yuan/kg.

Shengda Resources and Sichuan Gold hit the daily limit up, while Xiaocheng Technology, Chifeng Gold, Zhongjin Gold, Xingye Silver&Tin, and Shanjin International led the gains in individual stocks.