Gold, Silver Prices Surge: Spot Gold Jumps 2.2%, Silver Up 2.1% Amid Volatility

• Gold prices surged over 2 percent on Wednesday, marking its biggest single-day gain since 2008 in the previous session.
• Bargain hunting and a weaker dollar contributed to the bullion's rise.
• Spot gold increased by 2.2 percent to $5,044.74 per ounce, following a 5.9 percent jump on Tuesday.
• Gold touched a record high of $5,594.82 per ounce last Thursday, while spot silver rose 2.1 percent to $86.92 per ounce.
• Central banks globally, including China and India, are increasing gold reserves as the US dollar weakens as a reserve currency.