Gold and Silver up significantly – Commerzbank
The Gold price rose by 2.8% to $3,380 per troy ounce at the start of the week, Commerzbank's FX analyst Michael Pfister notes.
Platinum is still trading below the two-year high
"The last time Gold traded higher was more than three weeks ago. There was no specific trigger for the price jump. Rather, it is likely to be the combination of new tariff fears, geopolitical tensions and concerns about a sharp rise in US government debt that is causing investors to flee into the safe haven of Gold."
"In addition, the USD weakened noticeably in the wake of weaker US economic data. Silver rose by more than 5% to $34.8 per troy ounce yesterday, almost reaching its 12-year high from the end of October 2024. Platinum and Palladium, on the other hand, lagged significantly behind, with Platinum even falling in the meantime."
"Platinum is still trading below the two-year high of just over $1,100 per troy ounce recorded last week, while Palladium is trading just below $1,000 per troy ounce."
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FXStreet Insights Team
FXStreet
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