Gold and Silver Prices Surge on Strong Buying Interest

Gold and silver prices surged in domestic and international markets on August 6, driven by strong buying interest from investors seeking safe-haven assets. The softer US dollar and firm industrial demand for silver also contributed to the rally.

The price of 24-carat gold rose to Rs 1.45 lakh per 10 grams across major Indian cities, while 22-carat gold traded above Rs 1.33 lakh per 10 grams. Silver prices stayed elevated at around Rs 2.40 lakh per kilogram in most retail markets.

The uptrend comes after bullion prices rallied for the second consecutive session, supported by a softer US dollar, declining crude oil prices, and optimism over global monetary policy. Analysts say investors are monitoring upcoming US economic data for fresh cues on interest rates, which could influence gold's next move.