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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.

Gold and silver prices extended rally on Multi Commodity Exchange of India (MCX) on Tuesday.

MCX gold rate for April futures contracts ended higher by ₹7,307, or 5.16%, at ₹1,53,650 per 10 grams. MCX silver price for March contracts jumped by ₹30,739, or 13.01%, to close at ₹2,67,000 per kg.

Stay tuned to our Gold, Silver Rates Today Live Blog for the latest updates.

Gold, Silver Rates Today LIVE: MCX gold rate rises above ₹1.59 lakh per 10 grams; silver price jumps 4%

Gold, Silver Rates Today LIVE: Gold prices climbed back above the key $5,000 per ounce level, building on a more than 6% surge in the previous session, the biggest daily gain since 2008. According to Jigar Trivedi, Senior Research Analyst at IndusInd Securities, MCX gold rate for April futures is likely to appreciate to ₹1,58,000 per 10 grams.

Gold, Silver Rates Today LIVE: 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.

Gold, Silver Rates Today LIVE: 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.

Gold, Silver Rates Today LIVE: 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.

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.

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