COMEX Gold Surges Over 2%; Silver Rallies 3.5% on Lower Oil Prices

On June 15, 2026, COMEX gold prices increased over 2% reaching $4,333.90 per ounce, parallelly, silver saw a 3.5% uptick trading at $70.36 per ounce.  

These increases stem from a weakened US dollar and declining oil prices, factors that generally enhance precious metals' appeal. 

Gold and Silver Strengthened by Market Conditions 

As per news reports, the rise in precious metals comes amidst a softer US dollar, which on June 15 had reached a 10-day low.  

This monetary shift, alongside a drop in oil prices following a preliminary agreement between US and Iranian officials to end hostilities in West Asia, has helped in easing inflation expectations.  

In addition to the dollar's movement, reduced crude oil prices lessened inflationary concerns, affecting expectations for US Federal Reserve interest rate hikes.  

Gold, which offers no yield, often sees price improvements when interest rate projections ease, as the cost of holding gold decreases. 

Silver's Industrial Demand Boost 

While silver also benefits from its safe-haven status like gold, its value is bolstered further by industrial demand.  

Sectors such as solar energy, electronics, and manufacturing contribute to this demand, allowing silver to outperform gold when economic expectations are positive. 

Read More: Government Reduces Gold Base Import Price by $80 per 10 gm to $1,343 per 10 gm! 

Impact of West Asia’s Geopolitical Developments 

The preliminary agreement between US and Iran to quell tensions in West Asia has offered further support in reducing oil prices.  

Conclusion 

On June 15, gold surged by more than 2% to $4,333.90 per ounce while silver rallied 3.5% reaching $70.36 per ounce. These gains occurred amidst a weakening US dollar and falling oil prices, following geopolitical developments in West Asia. 

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