Prices of precious and industrial metals have increased in global commodity markets, APA-Economics reports.
August gold futures on the COMEX exchange rose by $87.8, or 2.07%, compared to the previous session, reaching $4,326.6 per ounce. The spot gold price also increased by $86.74, or 2.06%, to $4,306.07 per ounce.
July silver futures gained $2.23, or 3.27%, reaching $70.20 per ounce.
Among industrial metals, September copper futures rose by 8.3 cents, or 1.28%, to 658.95 cents per pound.
The spot price of platinum also increased by $41.66, or 2.42%, reaching $1,762.4 per ounce.
Market participants attribute the growing demand for precious metals to geopolitical risks and increased investor interest in safe-haven assets.