Singapore, February 04 (QNA) - Gold prices surged by more than 2% on Wednesday, extending their strongest performance since 2008, supported by strong investor demand and a weaker US dollar.
Spot gold rose 2.2% to $5,044.74 an ounce, after jumping 5.9% in the previous session, marking its largest daily gain since November 2008.
The precious metal had reached a record high of $5,594.82 last Thursday.
US gold futures for April delivery climbed 2.7% to $5,067.0 an ounce.
Other precious metals also posted solid gains. Spot silver advanced 2.1% to $86.92 an ounce, after hitting a record high of $121.64 last Thursday.
Spot platinum gained 2.3% to $2,260.50 an ounce, after reaching an all-time high of $2,918.80 on January 26, while palladium rose nearly 3% to $1,782.85 an ounce. (QNA)