Gold Prices Surge Over 3% in Five Days, Silver Nears $48 Hitting New High Since 2011

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Gold Prices Surge Over 3% in Five Days, Silver Nears $48 Hitting New High Since 2011

Deep News10-02

During Wednesday's (October 1st) New York close, spot gold gained 0.12% to $2,863.51 per ounce. COMEX gold futures rose 0.46% to $2,891.00 per ounce, accumulating a 3.26% gain over the past five trading days.

The Philadelphia Gold and Silver Index closed up 1.23% at 300.76 points, continuing to set new closing records and marking the first time closing above the psychologically significant 300-point level. The NYSE ARCA Gold Miners Index gained 1.03% to close at 2,150.94 points, also establishing a new closing high with a cumulative gain of 5.70% over the recent five-day period.

Spot silver advanced 1.30% to $47.2478 per ounce. COMEX silver futures climbed 1.54% to $47.360 per ounce, reaching $47.975 at 22:36. COMEX copper futures increased 0.70% to $4.8905 per pound. Spot platinum declined 0.87% to $1,562.09 per ounce, while spot palladium fell 0.31% to $1,257.39 per ounce.

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