Gold Surges to Seven-Week High Amid Falling Treasury Yields

Gold prices surged to a seven-week high on Thursday, reaching near ₹1.50 lakh per 10 grams as falling US Treasury yields boosted safe-haven demand.

The optimism about a possible US-Iran agreement failed to halt the rally, with gold futures for October delivery opening at ₹1,49,029 per 10 grams and later touching ₹1,49,700, gaining ₹1,207 or 0.81 percent by 12:10 pm.

COMEX gold gained 0.36 percent to trade at $4,320 an ounce, while COMEX silver rose 0.12 percent to $62.36 an ounce.