New Delhi

Goldand silver prices surged to more than three-month high levels in the national capital on Friday, extending their gains for a second straight session as a weak US dollar and firm global trends drove investors towards precious metals.

The yellow metal of 99.9 per cent purity appreciated by Rs 1,200 to Rs 1,63,500 per 10 grams (inclusive of all taxes), up from the previous close of Rs 1,62,300 per 10 grams, according to local traders.

The precious metal was last quoted around these levels on May 19, when it had stood at Rs 1,63,600 per 10 grams.

Silver also mirrored the bullish trend, jumping Rs 5,000 to Rs 2,50,000 per kilogram (inclusive of all taxes), its highest level in 15 weeks. The white metal had settled at Rs 2,45,000 per kg on Thursday and gained Rs 15,000 over the last two sessions.

It was last seen near these levels on May 4, when the price was quoted at Rs 2,49,500 per kilogram.

"Gold extended its rally on Friday's session and is heading for its third consecutive weekly gain, while silver also remained strong, supported by a weaker US dollar and falling longer-term Treasury bond yields," Gaurav Garg, Head of Research at Lemonn Markets Desk, said.