Weaker Dollar Boosts Gold, Silver Prices Rise Up to 1%

Gold and silver prices surged on Monday in India, with bullion rising up to 1% due to a weaker US dollar. The precious metals gained traction after crude oil prices plummeted following a pause in hostilities between the United States and Iran.

The Multi Commodity Exchange (MCX) saw gold futures trade at Rs 1,44,173 per 10 grams, up by Rs 1,067 or 0.75% from the previous close of Rs 1,43,106. Silver futures also traded higher, with prices reaching an intraday high of Rs 2,24,955 per kg and rising by Rs 2,706 or 1.22%

Experts attribute the rebound in gold to a sharp decline in crude oil prices, which eased inflation concerns. The lower oil prices weakened the US dollar, making bullion more attractive to investors.