Prices of silver and gold both moved higher on Sunday evening as investors reacted to escalating conflict in the Middle East and sought traditional safe haven assets.
According to reports, precious metals gained momentum after renewed geopolitical tensions raised concerns about broader instability in global markets.
At 6:08PM ET, gold rose 1.53 per cent to trade at $5,339.92 per ounce. Silver increased 0.79 per cent to $94.43 per ounce.
Earlier in the session, both metals had jumped close to two per cent, reflecting heightened demand from investors looking for protection against volatility.
Other precious metals also saw modest gains. Platinum advanced 0.47 per cent to $2,374.81 per ounce, while palladium remained flat.
The move higher in the silver price follows a broader trend of investors shifting capital toward hard assets amid fears that geopolitical instability could disrupt global trade and fuel inflation pressures, as per reports.
As markets continue to monitor developments in the region, precious metals are likely to remain sensitive to headlines and shifts in investor sentiment.
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