Gold and Silver Prices Rebound Amid Crude Oil Price Pullback

Gold prices rose Rs 1,200 to Rs 1,55,600 per 10 grams in New Delhi on Wednesday as bargain buying by traders and easing crude oil prices boosted sentiment towards bullion.

Silver also rebounded, surging Rs 7,400 to Rs 2.42 lakh per kilogram after holding steady for two straight sessions.

Traders resorted to bargain buying after three consecutive sessions of losses, according to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.

A pullback in crude oil prices improved sentiment towards bullion, while a softer tone in US Treasury yields ahead of the US Federal Reserve's policy decision provided additional support to precious metals.