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Gold Reaches a 7-week High Singapore, 6 Aug (ONA) — Gold prices rose today for the fourth consecutive session, touching their highest level in seven weeks, supported by a weaker US dollar as traders assessed the likelihood of the Strait of Hormuz reopening. Spot gold gained 0.2% to $4,254.98 per ounce, after reaching its highest level since June 18 earlier in the session. In the previous session, gold recorded its largest single-day gain since February. US gold futures also rose 0.2% to $4,312.80. Among other precious metals, spot silver fell 0.5% to $61.78 per ounce, while platinum climbed 0.8% to $1,755.18, after reaching its highest level since June. Palladium rose 0.8% to $1,748.08, marking its third consecutive session of gains. —Ends/AG
