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Gold and Silver Futures Surge Amid High Global Demand

COMEX gold futures surged 3.06% this week, closing at $2546.2/ounce. Silver followed, up 5.61% to $29.085/ounce.

Key events:

  • The World Gold Council reported a historic high in global gold demand, boosting prices.
  • Iron ore futures spiked over 3%, reaching $773/ton.
  • Domestic futures markets saw mixed trends, with some sectors like silicon iron rising sharply.

Insights: Gold's rally reflects broader economic uncertainties. Silver's strong performance underscores its dual role as both a precious metal and industrial commodity.

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