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Gold:-Spot gold prices jumped by 5.5 percent to close at $1237.7 per ounce. Prices rose to a one-year high, on track for its biggest daily jump in more than seven years as financial uncertainty, a lower dollar and tumbling stock prices around the world prompted investors to seek refuge in bullion.
The U.S. dollar tumbled to a nearly fourmonth low against a basket of major currencies, further supporting bullion prices.
Silver:-Last week, Spot silver prices surged by around 5 percent to close at $15.7 per ounce . Silver prices rose in tandem with rise in gold prices .Weakness in the dollar index supported the rise in silver prices.
On the MCX, silver prices rose by 6.1 percent to close at Rs.37984 per kg.
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