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Gold on Thursday rose for a second day as dollar weakness and buying of exchange—traded products signalled demand for precious metals.
Silver, platinum and palladium advanced.
Gold climbed 0.8 per cent to $1,403.74 an ounce and silver gained 0.8 per cent to $22.68 an ounce.
The dollar fell for a second day against a six—currency basket. Assets in the SPDR Gold Trust, the biggest gold ETP, expanded yesterday for the first time since May 9.
Gold has dropped 5 per cent this month as the dollar index advanced 2.1 per cent.
The metal has dropped 16 per cent this year and entered a bear market last month as the US Dollar Index strengthened 4.6 per cent and the MSCI All—Country World Index rallied 9 per cent.
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