Spot Silver Jumps 5% Intraday to $59.23 an Ounce; Gold Gains 1.48%
Minseung Kang
Summary
- Spot silver was reported to have jumped 5% intraday and traded at $59.23 an ounce.
- Spot gold was reported at $4,067.23 an ounce, up 1.48% from the previous session.
- The rise in precious-metals prices was attributed to Middle East tensions, inflation concerns, and stronger safe-haven demand.
Forecast Trend Report by Period
Spot silver jumped 5% in intraday trading, while spot gold rose more than 1%, signaling broad strength in the precious-metals market.
Odaily, a cryptocurrency-focused media outlet, reported on July 21 that spot silver had surged 5% during the session and was trading at $59.23 an ounce.
Spot gold also climbed. Real-time foreign-exchange market data showed it at $4,067.23 an ounce, up $59.46, or 1.48%, from the previous session.
The rise in precious-metals prices appears to reflect stronger safe-haven demand as tensions in the Middle East and inflation concerns persist. Markets are also watching how a rebound in crude oil and geopolitical risks may affect moves in gold and silver prices.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.