New Delhi, July 22 -- The rally in precious metals extended on Wednesday, 22 July, as safe-haven demand and technical buying gathered pace amid persistent geopolitical tensions in the Middle East.

After gaining around $60 in the previous session, Comex gold futures advanced another $95 per troy ounce to an intraday high of $4,171, taking the metal's weekly gain to 3.4%. If prices hold at these levels through the week, gold will record its biggest weekly advance in nearly two months.

Silver also extended its winning streak, rising for the fourth consecutive session. Comex silver futures climbed $2.16 per troy ounce to $61.70, pushing the weekly gain to 7.45%. If the rally is sustained, it would mark the white metal's strongest weekly per...