Commodities
Gold Hits Three-Month High as Weaker Dollar Boosts Bullion
Gold prices surged to over three-month highs in India's national capital on Friday, extending gains for the second consecutive session. The weaker US dollar and overseas markets have increased demand for precious metals.
According to traders, gold of 99.9 percent purity jumped ₹1,200 to ₹1,63,500 per 10 grams, including taxes. This is the highest level since May 19 when it traded at ₹1,63,600 per 10 grams.
Silver prices also surged ₹5,000 to ₹2.50 lakh per kilogram, its highest in 15 weeks. It had settled at ₹2.45 lakh on Thursday and has gained ₹15,000 over the last two sessions.