Silver price jumps 5%, gold attracts bargain hunters above $4,000

Silver and gold rebounded sharply as traders bought the dip after a two-week selloff. Comex silver for September delivery rose 3.6% to $59.11/oz and spot silver gained as much as 5%, its largest intraday move in more than five weeks, while Comex gold for August delivery climbed 1.6% to $4,080.90/oz and held support above $4,000. The move was driven more by bargain hunting and safe-haven demand than by fresh headlines, though ongoing US-Iran conflict, firmer oil, and expectations that the Fed will hold rates next week provided a supportive backdrop. The article also notes stronger industrial demand signals, including copper’s rally, plus physical tightness in silver from India. However, analysts warned gold’s technical setup remains bearish and that the rebound may not be durable if buying interest fades.