On August 5, spot gold prices climbed 3.02% to $4,200.52 per ounce, marking the first time since July 7 that the precious metal has reached this level.

Spot silver prices surged 4.6% to $62.19 per ounce, also achieving a milestone not seen since July 7.

The rally in precious metals comes as both gold and silver breach key technical levels, with gold crossing the $4,200 threshold and silver showing strong upward momentum with a nearly 5% gain.