Gold Bounces Back as Dollar Weakens and Oil Prices Ease

Gold prices rebounded in India on Friday after four consecutive sessions of losses. The precious metal rose by Rs 200 to Rs 1,52,600 per 10 grams in the national capital. This increase came as investors took advantage of lower levels due to a weak US dollar and easing oil price.

According to local traders, silver prices remained unchanged at Rs 2.37 lakh per kilogram, inclusive of all taxes. However, gold prices ended the week lower by Rs 4,000, or 2.5 percent, while silver lost Rs 10,000, or 4 percent.

Analysts attributed the rebound to a softer US dollar and stabilisation in bond markets after a sharp rise in yields supported the recovery. However, bullion remained headed for a weekly decline as elevated energy prices and persistent inflation concerns continue to strengthen expectations of further Federal Reserve tightening.