Commodities
Gold Surges to Three-Month High in India Amid US Dollar Weakness
Gold prices have surged in India, reaching a three-month high of Rs 1,62,300 per 10 grams. The price increase is attributed to the weakness of the US dollar and falling Treasury yields.
The yellow metal saw a significant rally in August, with investors increasing their exposure to precious metals. Gold prices rose by Rs 4,300 from Rs 1,58,000 on Wednesday to Rs 1,62,300 per 10 grams, including taxes.
The rise in gold prices has been accompanied by a sharp increase in silver prices, which jumped by Rs 10,000 to Rs 2,45,000 per kilogram. Market experts have attributed the rally to the weakness of the US dollar and falling Treasury yields.