Delhi Gold Prices Rebound After Six-Session Losing Streak
Gold and silver prices have rebounded in Delhi, breaking a six-session losing streak. The sharp market recovery was driven by easing US Treasury yields and renewed geopolitical tensions.
The price of gold in Delhi rose by Rs 3,400 to Rs 1.59 lakh per 10 grams, while silver jumped by Rs 5,000 to Rs 2.40 lakh per kilogram. This rebound marks a significant shift from the previous four consecutive sessions of losses.
Analysts attribute the recovery to weaker US employment data and expectations of a potential delay in Fed rate hikes. As Gaurav Garg, Head of Research at Lemonn, noted, 'Gold and silver rebounded as US Treasury yields eased from recent highs.'
The near-term outlook for precious metals remains uncertain, pending key US labor market data and Fed signals.