Gold and silver prices traded higher on Monday, rising by up to nearly 2 per cent. The gains came as the US dollar weakened and crude oil prices slipped sharply. Investors also reacted to hopes of progress in US-Iran peace negotiations, which improved sentiment in global markets, as per IANS.

Gold trades above Rs 1.59 lakh on MCX

On the Multi Commodity Exchange (MCX), gold futures for June 5 were up 0.36 per cent or Rs 566, opened at Rs 1,59,245 in early trade.