Gold, Silver Prices Surge on Weaker Dollar and Easing Inflation Fears

Gold and silver prices surged on Monday in India, reaching highs of up to 1% due to a weaker US dollar and easing inflation concerns. The Multi Commodity Exchange (MCX) saw gold futures trade at Rs 1,44,173 per 10 grams, a rise of 0.75%, while silver futures rose by as much as 1.26%. In the international market, spot gold gained about 1% to trade near $4,100 per ounce, and silver rose nearly 1% to around $59 per ounce.

The sharp decline in crude oil prices after the US and Iran paused military operations led to a decrease in inflation concerns, causing investors to seek refuge in bullion. The dollar index slipped to around 101.2 on Monday, further weakening the US dollar and making gold more attractive to investors.

According to market experts, gold rebounded from a nine-month low as the decline in crude oil prices eased inflation concerns. They expect the near-term outlook for both precious metals to remain cautiously positive.