Gold, silver prices today: Comex gold rebounds above $4,070; silver at $59 as investors assess Middle East tensions

Gold and silver prices edged higher on Friday as both precious metals recovered a portion of previous session losses amid escalating Middle East tensions. Comex gold futures rose $23 per troy ounce to $4,073 while silver climbed about $1 to $58.98; on MCX, near-month gold futures gained Rs 643 per 10 grams to Rs 1,43,464 and silver jumped Rs 3,475 per kg to Rs 2,02,850. Gold has gained around 1.3% and silver 4.5% on the week so far, potentially snapping a two-week losing streak, while investors now price in roughly a 68% probability of a US Federal Reserve rate hike at the September meeting as Brent crude briefly crossed $100 a barrel.