Gold and silver prices climb on hopes of easing fuel shortages - Mining.com.au

AI desk brief

Gold and silver climbed above US$4,200/oz and US$61/oz respectively as markets bet that additional Russian diesel supplies could ease global fuel shortages. The move followed comments from President Trump that Russia had agreed to supply hundreds of thousands of tonnes of diesel to the US and global markets, partially lifting Moscow’s diesel-export ban.

Over the past month, gold is down 2.31% but still up 2.16% year on year, while silver has fallen 3.49% over the month and remains 16.53% higher than a year ago. The IEA has also urged members to speed up pledged diesel releases and consider further supply to help tighten markets, with diesel prioritized ahead of its 15 October governing board meeting.