And the price of gold in spot transactions rose 1.7 percent to $ 1687.99 an ounce, the highest level since September 22.
US gold futures rose 1.5 percent to $1,696.70.
The price of silver jumped 7.6% to $ 20.44 an ounce.
The dollar index, which measures the performance of the US currency against six major currencies, fell, making the dollar-denominated gold price less expensive for overseas buyers. The 10-year US Treasury yields also fell to the lowest level in a week, which also supported the demand for gold.
As for other precious metals, the price of palladium jumped 4.2 percent to $ 2248.15, and platinum 4.5 percent to $ 897.49 an ounce.