Stories
Gold Rebounds Rs 3600 To Rs 152 Lakh Per 10g Ahead Of Festive Demand
- •Gold prices jumped Rs 3,600 to reach Rs 1,52,500 per 10 grams in the national capital, recovering from a two-session slide.
- •The rebound was driven by improved buying interest from jewellers and retailers ahead of the festive season.
- •Silver moved in the opposite direction, dropping Rs 3,000 to Rs 2.24 lakh per kilogram, hitting a three-month low.
- •A strong US dollar, elevated crude oil prices at USD 105 per barrel, and renewed tensions in West Asia capped further upside for gold.
Key Questions Answered
Gold prices in New Delhi jumped Rs 3,600 to Rs 1.52 lakh per 10 grams as buying interest from jewellers and retailers improved ahead of the festive season. Meanwhile, silver moved in the opposite direction, dropping by Rs 3,000 to Rs 2.24 lakh per kilogram.
Renewed tensions in West Asia pushed crude oil prices up to USD 105 per barrel after reports that the White House asked the Pentagon to develop strike options against Iranian targets. This sudden spike in crude oil, alongside a strong US dollar, kept a lid on gold's recovery in both domestic and international markets.
Globally, spot gold was marginally higher at USD 4,111.94 per ounce, while silver fell over 2 per cent to USD 58.50 an ounce. Gold remained steady at USD 4,120 an ounce after touching a nine-week low in the previous session.
