Precious metals rise in commodity markets: Gold climbs above $4,130
Istanbul, July 22 (Hibya) – Precious metals traded higher in commodity markets. Gold, silver, platinum and palladium posted gains, while copper prices remained in negative territory.
An upward trend in precious metals stood out across global commodity markets. As investors turned to safe-haven assets, gold and other precious metals gained in value, while copper weakened among industrial metals.
Gold futures rose 1.33% to reach $4,130.60. Supported by strong safe-haven demand, gold remained one of the most closely watched commodities in the market.
Silver prices also increased by 1.29% to $59.87, reinforcing the broadly positive outlook for precious metals.
Platinum, widely used in industry and jewelry manufacturing, gained 1.92% to $1,669.40. Palladium posted the strongest performance of the day, rising 2.21% to $1,315.00.
In contrast, copper prices fell 0.50% to $6.52.
While the rally in precious metals reflected investors' continued demand for safe-haven assets, the decline in copper pointed to a more cautious outlook for industrial metals.
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