Gold and silver prices on Monday surged in Indian markets as on MCX, gold rose 0.24 per cent to near four-month high of Rs 48,519 while silver rates jumped 0.5 per cent to Rs 71,440 per kg. In the previous session gold had declined 0.22 per cent while silver had slumped 1.7 per cent.
In international markets, gold inched higher to near 4-month high as a slide in cryptocurrencies further lifted the safe-haven metal’s appeal.
The precious metal was also supported by a weaker US dollar and expectations of growing inflationary pressure. Spot gold was up 0.2 per cent at $1,883.21 per ounce. Among other precious metals, silver gained 0.4 per cent to $27.64 while platinum climbed 0.6 per cent to $1,173.03.