Gold and Silver Prices Bounce Back on Bargain Buying

Gold prices in India rose ₹1,200 to ₹1.55 lakh per 10 grams on Wednesday as bargain buying by traders and easing crude oil prices boosted sentiment towards bullion.

Silver also rebounded after holding steady for two straight sessions, surging ₹7,400 to ₹2.42 lakh per kilogram (inclusive of all taxes) against the previous close of ₹2,34,600 per kg.

According to local traders, the yellow metal of 99.9% purity appreciated by ₹1,200 to ₹1,55,600 per 10 grams from Tuesday's closing level of ₹1,54,400 per 10 grams.

The rebound in gold prices comes as international markets saw spot gold gain $53.96, or 1.3%, to $4,348.10 per ounce, while silver rose 1.5% to $64.61 an ounce.