Gold Tops $4,000, Silver Near $60 on Safe-Haven Demand – ING

ING's commodities team notes that gold and silver have extended their gains, driven by dip-buying and escalating geopolitical concerns in the Middle East. The precious metals are benefiting from safe-haven demand, with gold now trading above $4,000 per ounce and silver approaching $60 per ounce.

Stronger industrial metals are also providing additional support for silver, which has both monetary and industrial uses. The upward momentum reflects a broader risk-off sentiment amid ongoing regional tensions, reinforcing the appeal of hard assets.

No specific price targets were provided by ING, but the current levels underscore sustained interest in precious metals as a hedge against uncertainty.