Silver Rate Today LIVE: Gold and silver prices in the international market jumped to a record high on Monday amid a weak US dollar after the US Justice Department threatened the Federal Reserve with a criminal indictment, while geopolitical tensions remained elevated on intensifying protests in Iran.
Gold & Silver Rate Today
US gold futures rose 1.88% to $4,585.56 an ounce, while Spot gold price was up 1.45% at $4,575.82 an ounce, after hitting a fresh record high of $4,601.17 level. Silver prices jumped 4.85% to $83.19, after surging nearly 10% last week. Silver rate today hit a record high of $83.88 level.
The surge in gold and silver prices came after the US Fed Chair Jerome Powell said the central bank had been served grand jury subpoenas from the Justice Department related to his June congressional testimony on renovations of the Fed’s headquarters, Bloomberg reported.
This led the US dollar retreat from its strongest in a month early on Monday. The dollar index, which measures the greenback’s strength against a basket of six currencies, was last 0.3% lower at 98.899, snapping a five-day winning streak.
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