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Commodities

US-Iran Diplomatic Hopes Fuel Gold and Silver Rally

Guavy AI Editorial Team
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Gold and silver prices continued their upward trend on Wednesday, August 5, as optimism over a potential diplomatic breakthrough between the US and Iran eased concerns over inflation.

The Comex gold price surged by $173 to $4,325 per troy ounce, its highest level since mid-June. The precious metal also drew support from a weaker US dollar.

Comex silver futures extended their rally from Tuesday, climbing another $2.74 to $63 per troy ounce.

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