Baku: Trading in precious metals ended with mixed dynamics in global commodity markets, APA-Economics reports. On the COMEX exchange, the price of one troy ounce of gold for August futures rose by $20.60, or 0.51%, to $4,070.80. Spot gold also increased by $3.31, or 0.08%, to $4,052.79.

According to Azeri-Press News Agency, silver also posted gains. On COMEX, the price of silver for September futures climbed by $0.85, or 1.47%, to $58.91. Among industrial metals, copper rose by 1.40 cents, or 0.22%, to 635.75 cents. Meanwhile, platinum declined. Spot platinum fell by $5.20, or 0.33%, to $1,592.

Analysts attribute the rise in gold and silver prices to increased investor demand for safe-haven assets amid geopolitical risks. Tensions between the United States and Iran, along with global economic uncertainty, have boosted demand for precious metals. However, profit-taking following previous gains has put pressure on platinum prices.