Gold, silver up on safe-haven demand amid gloomy economic outlooks

Gold and silver prices are solidly up in midday U.S. trading Thursday. Safe-haven demand is featured late this week as global stock markets have become shaky again. A growing number of economists are now projecting longer recovery periods for major world economies, highlighted by Federal Reserve Chairman Jerome Powell Wednesday providing a grim picture of the U.S. economy and its path out of the pandemic. Gold prices hit a three-week high today and silver notched a four-week high. June gold futures were last up $25.50 an ounce at $1,741.80. July Comex silver prices were last up $0.474 at $16.135 an ounce.

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