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Commodities LIVE: Gold prices surge to 3-week high on soft PMI data | Silver gains 4% overnight

Gold prices reached a three-week high amid soft PMI data from the United States and Euro Zone. The decline in US Dollar from a two-month high has bolstered buying activity. Meanwhile, silver prices have surged by 4 percent overnight and is now trading at a three-week high. The USD and Treasury Yields have retreated ahead of the Jackson Hole meeting, with industrial demand projected to rise. Notably, solar panels are expected to account for 14 percent of global silver consumption. Watch Manisha Gupta in conversation with Somsundaram PR, Regional CEO of the World Gold Council only on Commodities Corner.

first published: Aug 24, 2023 01:09 pm

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