Bullion Prices Reach Three-Month Highs Amid Weak Dollar Boosting Demand

On Friday, gold and silver prices experienced a notable increase, reaching their highest levels in over three months. This rise was attributed to a decline in the value of the US dollar and favorable trends in global markets, which prompted increased demand for both precious metals.

Specifically, gold with 99.9 percent purity rose by Rs 1,200, bringing the price to Rs 1,63,500 per 10 grams. Similarly, silver saw a significant boost, climbing by Rs 5,000 to reach Rs 2,50,000 per kilogram.

This surge in precious metal prices can be linked to various factors, including investor movements, inflation concerns, and changes in interest rates, which often drive individuals and institutions towards gold and silver as safe-haven assets. Recently, global economic uncertainties and geopolitical tensions have also contributed to the attractiveness of these metals, as they are traditionally perceived as a hedge against market volatility.