Gold futures rebounded above $65,438+0,500 an ounce on Tuesday, and silver prices soared by more than 5%, as investors saw the fall in gold prices last week as a buying opportunity and concerns about the global economy continued to support gold demand.
In Comex Branch of the New York Mercantile Exchange, the settlement price of the most actively traded August gold futures contract rose by 30. 10 to $0.512.70 per ounce, an increase of 2%. The New York Mercantile Exchange is closed on Monday due to the American Independence Day.
Bob Haberkorn, senior market strategist at Lind-Waldock, said that the market demand at the price of $65,438+$0,500 per ounce is still quite strong.
Haberkorn also said that worries about the macroeconomic situation made investors reluctant to sell gold on Tuesday. These concerns include reports that China may underestimate the scale of local government debt, and persistent concerns about the US debt ceiling negotiations and the Greek debt crisis.
Last Friday, gold futures fell to their lowest level in six weeks.
Last week, the price of silver fell below $35 an ounce for three consecutive trading days, the first time since mid-May.
Frank Schmidt, a broker of Integrated Brokerage Services, said that the silver market was oversold, and the price of silver rose on Tuesday because traders who were short of silver took profits. The rise in the price of silver attracted some traders who followed suit to buy.
The most active September silver futures contract settlement price rose by 1.705 USD to 35.45438+00 USD per ounce, with an increase of 5. 1%.
/kloc-the settlement price of platinum futures contract in October rose by 1.5% to 1.742+00 USD per ounce. September palladium futures contract rose 2.4% to $775.65 an ounce.