Gold and Silver Prices Surge on Weaker Dollar and Geopolitical Tensions

Gold prices surged to their third consecutive weekly gain, supported by a weaker US dollar and escalating geopolitical tensions in West Asia. Global gold prices rose 3.6% for the week, with spot gold trading at $4,540.18 per ounce on Friday.

The US Treasury's bond buyback programme and softening inflation figures also contributed to the rally. The dollar index declined by 0.20%, making greenback-priced bullion more affordable for buyers overseas.

Silver outpaced gold with a sharp rally, driven by industrial demand and safe-haven buying. Spot silver rose 1.3% to $68.92 per ounce on Friday, testing key resistance levels at $66-$67.