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Precious Metals Market: Gold and Silver Rise Simultaneously, Gold Surpasses $4200
The precious metals market is maintaining a steady upward trend. Spot gold is up by $12 compared to the morning session, trading above $4200 per ounce. The intraday price change is a 0.23% gain.
Meanwhile, spot silver is also experiencing buying pressure. The current price is $58.75 per ounce, recording an increase of over 1.00% today. Both gold and silver are simultaneously testing higher levels.
Market analysts believe that a weakening dollar and rising geopolitical risks are encouraging purchases of traditional safe-haven assets like precious metals.