Gold, Silver Prices Surge on Easing Crude Oil Prices, Lower Bond Yields

Gold and silver prices rose on Wednesday as easing crude oil prices and bond yields supported precious metals. On the Multi Commodity Exchange (MCX), gold futures (October) opened at Rs 1,63,202 per 10 grams, up Rs 320 from its previous close of Rs 1,62,882.

At around 12:15 am, gold was trading at Rs 1,62,395 per 10 grams, down Rs 487 or 0.3 percent. However, it later jumped as much as 0.19 percent or Rs 320 to hit an intraday high of Rs 1,63,202.

Silver futures (September) opened at Rs 2,45,583 per kg, up Rs 1,456 from its previous close of Rs 2,44,127. At the last count, silver was seen at Rs 2,44,200 per kg, down Rs 73 or 0.03 percent.

Market experts attribute the rise in gold and silver prices to easing crude oil prices, lower bond yields, and a weaker dollar.