Silver Surges Over 1% Amid Geopolitical Tensions and US Inflation Concerns
Gold prices remained relatively stable in international trade on Tuesday, September 8, despite geopolitical tensions in West Asia. In contrast, silver gained more than 1% as investors weighed their options.
The COMEX gold contract was trading at $4,477.40 per ounce, up $0.80 or 0.02% from the previous close. It moved between a high of $4,482.50 and a low of $4,426.20 an ounce during the session.
Silver outperformed gold, with COMEX silver rising $0.752, or 1.13%, to $67.50 per ounce. It touched an intraday high of $67.675 and a low of $66.025 an ounce.
Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., said 'Gold whipsawed through last week, sliding to a three-week low near $4,300 an ounce before rallying above $4,540 an ounce on dovish Fed comments, then retreating to $4,477 an ounce after a blowout August jobs report reignited rate-hike bets.'