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Gold on week high, Silver up 1%

ByVictoria

Gold prices rose for a third straight session on Wednesday and hit a one-week high, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty.

Spot gold was up 0.7% at $3,312.51 an ounce, as of 1153 ET (1553 GMT). U.S. gold futures climbed 0.9% to $3,315.60.

“We expect gold’s recent price dip will stimulate investment buying, as macroeconomic and geopolitical uncertainty linger,” said ANZ in a note.

Silver rose 1% to $33.40 an ounce.

Platinum was up 2.1% at $1,075.59 after hitting its highest since May 2024 earlier. Palladium added 1.8% to $1,031.05, an over six-month peak.

Source – Reuters

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    All existing slots at the Bank of England to withdraw gold bars are booked up as market players race to ship the metal to the United States to take advantage of a surge in gold prices there, an official has said.

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