Gold Prices Rebound by Rs 1,600, Silver Climbs Rs 5,000 as Oil Prices Ease

Gold prices staged a sharp rebound on Friday, rising by Rs 1,600 to reach Rs 1.56 lakh per 10 grams in the national capital. This increase comes as crude oil rates retreat, easing inflation concerns and giving investors room to return to bullion after the recent sell-off.

Silver also joined the recovery, climbing by Rs 5,000 to Rs 2.47 lakh per kilogram. The white metal had ended flat at Rs 2.42 lakh per kg in the preceding session.

Gaurav Garg, Head of Research at brokerage platform Lemonn, attributed gold's recovery to the easing of dollar and US Treasury yields following the Federal Reserve's interest rate hike. However, he noted that tensions in West Asia remain a risk.

The recovery tracked global bullion markets, with spot gold rising USD 50.96, or 1.17 per cent, to USD 4,392.78 per ounce. Silver advanced 3.10 per cent to USD 67.21.