Gold, Silver Extend Gains as U.S.-Iran Diplomacy Eases Rate-Hike Fears

International gold and silver prices widened gains on July 21 after the United States and Iran both said they did not rule out easing the conflict through diplomatic channels, while oil prices retreated. Jiemian News reported that investor concern about a Federal Reserve rate hike triggered by a rebound in inflation eased during the Asian trading session. At 3:05 p.m. Beijing time, gold futures for August delivery on the New York Mercantile Exchange were at $4,081.70 per ounce, up 1.64%, and September silver futures were at $59.13 per ounce, up 3.61%.