Gold and Silver Prices Reach Three-Month Highs in India

Gold and silver prices reached three-month highs in India's national capital on Friday, as investors sought safe-haven assets due to a weak US dollar and firm global trends.

The price of gold rose by Rs. 1,200 to Rs. 1,63,500 per 10 grams, its highest level since May 19, while silver jumped by Rs. 5,000 to Rs. 2,50,000 per kilogram, a high not seen in 15 weeks.

Experts point out that the US Treasury's expanded bond-buying programme has contributed to the surge in gold prices, as it triggered a sharp fall in the US dollar and bond yields.

Gaurav Garg, Head of Research at Lemonn Markets Desk, said, 'Gold extended its rally on Friday's session and is heading for its third consecutive weekly gain.'