Gold Prices Rebound as Oil Rates and Dollar Ease

Gold prices rebounded on Friday, snapping a four-session losing streak in India's national capital. The precious metal rose by Rs 200 to Rs 1,52,600 per 10 grams, reversing the previous session's losses. This modest increase came as investors took advantage of lower levels to engage in bargain buying.

Despite this recovery, gold prices still ended the week lower by Rs 4,000 (2.5%) and silver lost Rs 10,000 (4%). Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, attributed the rebound to a decrease in crude oil rates and a weaker US dollar.

Overseas markets also saw a similar trend, with spot gold gaining USD 27.73 (1%) to USD 4,301.40 per ounce, while silver rose 1.4% to USD 64.72 an ounce. Kaynat Chainwala, AVP Commodity Research at Kotak Securities, noted that further softness in oil, the dollar, and yields could support bullion.