[MARKET UPDATE] Precious metals extend on gains with spot silver up about 4% to reclaim the USD 90/oz level, while gold is higher by over 1% and retests USD 5,200/oz

Precious metals extend on gains with spot silver up about 4% to reclaim the USD 90/oz level, while gold is higher by over 1% and retests USD 5,200/oz.

The notable gains in precious metals, with silver up around 4% and gold increasing by over 1%, suggest strong bullish momentum in the sector. This could be driven by rising concerns over inflation or economic instability, which typically lead investors to seek safe-haven assets like gold and silver. Any sustained push at these levels may also influence related markets, potentially strengthening commodity-linked currencies against the USD.