Gold Prices Hit Two-Month High as Dollar Weakens

Gold prices reached their highest level in over two months on August 11, driven by a weaker US dollar and expectations that softer US economic data could lead to an easing of monetary policy. Spot gold climbed 0.5% or $22.60 to trade at $4,413.16 per ounce.

The price increase marked a more than nine-week peak for gold, with spot silver also gaining 0.6% or $0.40 to trade above $66 an ounce.

In India, the domestic market saw gold trading 1.01% higher at Rs 1,54,641 per 10 grams on MCX, while silver was trading 0.54% higher at Rs 2,38,141 per kg.