Dollar Weakness Boosts Gold and Silver Prices Amid Geopolitical Uncertainty

Gold and silver prices remain in focus as global currency movements and geopolitical tensions shape the precious metals market. According to Vandana Bharti, Head - Commodity Research at SMC Global Securities, a weaker US dollar has supported bullion prices.

The dollar's role in determining gold and silver prices is significant, as a stronger dollar typically makes these metals more expensive for foreign buyers. However, the current weakness of the dollar has kept gold and silver prices attractive.

Trade tensions and the Russia-Ukraine war have also influenced central bank reserve preferences, with some banks opting to hold more precious metals in their reserves due to uncertainty about global economic stability.