Weaker Dollar Lifts Gold Prices Amid Geopolitical Tensions

The value of gold and silver has increased in early US trading due to a weaker dollar. Spot gold rose by approximately 1.19% to $4,657.10 an ounce, while silver gained about 0.43% to $69.16.

The market's recent behavior reflects a balance between softer inflation data and strong economic activity signals. Investors are awaiting key US economic reports and the Jackson Hole symposium later this week.

Geopolitical tensions, particularly those surrounding the Strait of Hormuz and potential sanctions, continue to support demand for precious metals as safe-havens, despite the restrictive interest rate environment.