Precious Metals Rally as Cooling US Yields and Weaker Dollar Push Investors Back

Gold and silver prices surged on the Multi Commodity Exchange (MCX) on Wednesday, following a global rally in precious metals. The rally was driven by dropping US Treasury yields and a weakening dollar, which pushed investors towards traditional safe havens.

On MCX, gold October futures rose by ₹1,849, or 1.20%, to reach ₹1,56,111 per 10 grams. Silver September futures also gained, increasing by ₹2,055, or 0.88%, to trade at ₹2,34,474 per kilogram.

The domestic rally mirrored a strong recovery on the COMEX, where spot gold advanced 1.25% to trade around $4,476.00 per ounce, while international silver jumped 1.73% to $65.145 per ounce.