Gold & Silver Soar on Geopolitical Tensions, Weaker Dollar

Gold and silver prices soared to new peaks on Friday, driven by escalating geopolitical tensions and a plummeting U.S. dollar. Spot gold surged 1.5% to $2,417.59 per ounce, while silver skyrocketed 2.8% to $32.15 per ounce. The surge was fueled by fears of a Middle East conflict following explosions in Iran and a weakened U.S. dollar, which made gold and silver more affordable for international buyers. Analysts attribute the rise to safe-haven demand and the anticipation of lower interest rates from the Federal Reserve. With ongoing global uncertainties, many predict further price increases for both metals in the near future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.