Gold Climbs to US$4,402 as Silver Leaps 3.7%—Peru, Mexico Gain
Gold settled at US$4,326 an ounce while silver surged 3.7% to US$65.82. Dollar strength and industrial appetite split the two metals, putting Mexico and Peru in The post Gold Climbs to US$4,402 as Silver Leaps 3.7%—Peru, Mexico Gain appeared first on The Rio Times .
On Monday, August 10, 2026, precious metals such as gold and silver experienced significant gains. Silver led the rally, surging by 3.70% to settle at US$65.82 an ounce, marking the steepest increase in weeks. Gold followed, climbing to US$4,402 an ounce, up 1.38%. The gains came despite a stronger US dollar and the looming week of US inflation data.
Haven demand, particularly from equity market losses, contributed to gold's rise, pushing it past the US$4,400 mark. Silver's surge indicated industrial buyers entering the market, viewing it as part of the energy transition and manufacturing sector rather than just a monetary hedge. In Latin America, the rally benefited both gold and silver producers.
Mexico, the world's leading silver producer, saw its miners Fresnillo and Peñoles benefit from higher silver prices, which in turn boosted export revenues and mining state fiscal health. Peru, a major gold producer, watched its gold price rise to a level above its real costs, widening margins for companies like Buenaventura. The article highlights the two metals' differing influences on Latin American economies: silver's industrial demand and gold's status as a haven asset.
Foreign investors are watching these developments closely as they could impact the region's mining industries.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
