Gold Prices Rebound ₹600 to ₹1.56 Lakh Amid Weaker Dollar

Gold prices rebounded by ₹600 to reach ₹1,56,800 per 10 grams in the national capital on Monday, helped by a weaker US dollar and positive trends in overseas markets.

The precious metal of 99.9 per cent purity had settled at ₹1,56,200 per 10 grams on Friday.

Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said gold moved higher as the dollar weakened and expectations of aggressive interest-rate tightening by the US Federal Reserve eased.

A weaker dollar generally makes gold cheaper for buyers using other currencies, which can improve global demand for the precious metal. Global Gains Gold and silver also traded higher in international markets.