Gold hits highest since May as recovery rally extends
10:09, 21/08/2026, FridayU: Update: 10:22, 21/08/2026, Friday
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File photoGold prices extended gains to reach $4,557 per ounce, marking their highest level since late May as the precious metal continued recovering losses suffered following the outbreak of the US-Iran war earlier this year, while silver rallied 1.3% to approach $69 per ounce and hit its highest level since mid-June.
Gold prices reached $4,557 per ounce to mark their highest level since late May, continuing a recovery from losses suffered after the US-Iran war began.
Silver tracks gold higher
Silver rose 1.3% to approach $69 per ounce, hitting its highest since mid-June. The white metal mirrored gold's upward trend as both attracted safe-haven demand.
Recovery follows pre-war peaks
The rally follows a drop from record highs near $5,500 per ounce seen before the Washington-Tehran conflict. Bullion has climbed steadily since early August, posting average daily gains of 1%.
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