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Commodity News Details
Precious Metals Preview: COMEX gold and silver futures extend gains amid persistent geopolitical uncertainties
07-Aug-2026 09:33

COMEX gold and silver futures extended gains in Friday morning in Asia amid persistent geopolitical uncertainties. Iranian state news reported that a framework agreement over the management of the Strait of Hormuz would prohibit passage of US, Israeli, and hostile vessels until compensation was paid which dampens hopes for a diplomatic resolution to end the five-month-old US-Iran war and supports the safe-haven. The yellow metal now turns focus and awaits for the release of the crucial US Nonfarm Payrolls (NFP) report. Currently, the counter is quoting at $4319.70 an ounce, up 0.47% on the day and silver is up 1.5% at $62.51 per ounce.

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