Commodities
Indian Gold Prices Soar to 3-Month High Amid Weaker Dollar
Gold prices surged to a three-month high in India on Thursday, reaching Rs 1.62 lakh per 10 grams due to a weaker US dollar and lower US Treasury yields.
The yellow metal rose by Rs 4,300 from its previous close of Rs 1.58 lakh per 10 grams, with local traders citing the appreciation as the best since May 26.
Silver also saw a significant increase, rising to a seven-week high of Rs 2.45 lakh per kilogram, up from Rs 2.35 lakh per kg the previous day.
Analysts pointed out that gold hovered near its highest level in over two months due to the decline in the US dollar and Treasury yields, making it an attractive asset for investors.