Gold and Silver Prices Soar on Weaker Dollar

The price of gold and silver rose on July 27 as investors became more confident in their investments due to improving global market sentiment.

This increase was partly driven by a weaker US dollar, which makes precious metals less expensive for buyers using other currencies, thereby increasing demand globally.

August gold futures on the Multi Commodity Exchange (MCX) gained 0.75% to reach Rs 1,44,173 per 10 grams, while September silver futures rose by 1.22% to Rs 2,24,844 per kg.