Gold Prices Surge to Three-Month High on Weaker Dollar

Gold prices have reached their highest level in over three months, according to recent market data.

The precious metal rose by 1.6% to $4,590.51 per ounce on Friday, marking its third consecutive weekly gain.

The increase is attributed to the US Treasury's bond-buying support plan, which has negatively impacted the dollar and driven up gold prices.

US gold futures also climbed about 1.7% to $4,647, bringing the precious metal's gains to five percent since the start of the week.

The prices of other precious metals, including silver, platinum, and palladium, have also increased significantly, with silver up by 2%, platinum up by 3.8%, and palladium up by 0.6%.