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Commodities

US-Iran Tensions Send Gold, Silver Prices Soaring on August 4

Guavy AI Editorial Team
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Gold and silver prices surged on August 4 as investors tracked diplomatic efforts to ease tensions between the US and Iran. The rally in precious metals came after US Treasury Secretary Scott Bessent told CNBC that an agreement to reopen the Strait of Hormuz could be reached 'today or tomorrow.'

Comex gold futures climbed $61 per troy ounce to an intraday high of $4,151, while silver futures advanced $2.35 to $60.24 per ounce.

The near-month MCX gold futures contract rose ₹1,509 to an intraday high of ₹1,44,424 per 10 grams, mirroring gains in the international market.

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