Gold Soars as Dollar Weakens

Gold prices surged by over one percent today, Wednesday, buoyed by a weakening dollar.

The spot price of gold rose by 1.7 percent to $4633.31 per ounce by 02:25 GMT. Similarly, U.S. gold futures for June delivery increased by 1.7 percent to $4643.20 per ounce.

Among other precious metals, silver's spot price climbed by 2.7 percent, reaching $74.80 per ounce. Platinum gained 1.7 percent, reaching a price of $1986.25. Additionally, palladium saw a 2.1 percent rise, reaching $1516.44 per ounce.