Gold & Silver Soar Amid Geopolitical Tensions

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Gold & Silver Soar Amid Geopolitical Tensions

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Gold and silver prices soared to new peaks on Friday, driven by escalating geopolitical tensions and a weakening U.S. dollar. Spot gold surged 1.5% to $2,417.59 per ounce, while silver jumped 2.8% to $32.15 per ounce. This surge was fueled by concerns over a potential wider conflict in the Middle East and a falling U.S. dollar index, making precious metals more attractive to investors. The Federal Reserves expected interest rate cuts are also boosting demand for gold, while silver is benefiting from growing industrial demand, particularly in the solar panel industry. Analysts predict that gold and silver prices could continue to rise in the near future due to persistent geopolitical risks.

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