Gold closes at highest level since mid-June
Gold bars
Gold prices rallied on Wednesday, with the most-active contract settling at its highest level since June 17, supported by lower US Treasury yields and growing optimism over the full reopening of the Strait of Hormuz.
US President Donald Trump said the US was holding "very good talks" with Iran, boosting expectations that the five-month conflict could be nearing an end. Meanwhile, Tehran said negotiations with Oman over the Strait of Hormuz had made progress.
Despite the latest rally, gold remains more than 20% below its record high reached in January, after the conflict in the Middle East fueled inflation concerns and strengthened expectations of tighter monetary policy.
|
Gold, Silver Futures Prices |
|||
|
Metal |
Price (US$/oz) |
Change (US$) |
Change (%) |
|
Gold (December futures) |
4,305.20 |
+152.60 |
+3.67% |
|
Silver (August futures) |
62.099 |
+2.043 |
+3.40% |
Commodity Price
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