Gold, Silver Rates Today LIVE: Gold and silver prices extended rally on Wednesday, supported by a softer US dollar. Gold prices rose more than 2% after clocking its best day since 2008 in the previous session.
Spot gold rate rose 2.2% at $5,044.74 per ounce, after gaining 5.9% on Tuesday, its biggest daily gain since November 2008. The yellow metal scaled a record high of $5,594.82 last Thursday. US gold futures for April delivery rallied 2.7% to $5,067.0 per ounce.
Spot silver price rose 2.1% to $86.92 an ounce. Silver price has declined more than 28% from its record high level of $121.64 hit on Thursday.
Meanwhile, the US dollar fell against most major currencies except the yen, as traders consolidated recent gains fuelled by upbeat US data and expectations of a less-dovish Federal Reserve. A weaker dollar makes greenback-priced bullion more affordable for holders of other currencies.
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