Commodities
Gold and Silver Prices Soar on Weaker Dollar and Lower Bond Yields
The prices of gold and silver on MCX rose amid a softer US dollar and lower bond yields.
MCX gold October futures were up 0.25% at ₹1,58,391 per 10 grams, while MCX silver September contracts were 1.23% higher at ₹2,39,709 per kg around 9:20 AM on Thursday.
The decline in bond yields and the dollar's weakness led to buying in precious metals, driving prices up globally and domestically.
In the US, gold prices rose to near two-month highs after a liquidity support announcement by the U.S. Treasury Department dragged down yields and the dollar.