Gold Price Tumbles in New Delhi, Silver Sees Surprise Rebound

Gold prices took a hit in New Delhi today, dropping by Rs 900 to Rs 1.47 lakh per 10 grams due to a stronger rupee and subdued international markets. The All India Sarafa Association reported that gold of 99.9% purity fell to Rs 1,47,400 per 10 grams, down from the previous session's closing price of Rs 1,48,300.

Gaurav Garg, Head of Research at Lemonn Markets Desk, attributed silver's rebound by Rs 1,800 to a weaker US dollar and easing oil prices. Silver prices rose to Rs 2,26,500 per kilogram from Friday's closing level of Rs 2,24,700.

The international market saw spot gold edge up to $4,048.89 per ounce, while silver rose marginally to $57.97 per ounce. Investors' caution ahead of key US economic data and lack of fresh buying interest for gold limited its gains.