June 1 (Bloomberg) -- Gold climbed to the highest in more than three months as a slumping dollar increased demand for the precious metal as a store of value. Silver gained to the highest since August.
Precious metals advanced as the dollar dropped to the lowest since Dec. 18 against a basket of six major currencies, after posting its biggest monthly loss this year in May. Silver rose 27 percent in May, the most since April 1987, and gold added 10 percent, the most since November.
"The dollar's weakness continued to lend support to commodities, including precious metals and crude oil," said Hiroyuki Kikukawa, general manager of research at IDO Securities Co. in Tokyo.
