Gold Prices Rebound in India Amid Firm Global Trend

Gold prices rebounded in India's national capital on Wednesday after two months of decline, rising Rs 700 to Rs 1.49 lakh per 10 grams.

This recovery came as investors resorted to value buying at lower levels amid a firm global trend. The yellow metal of 99.9 per cent purity ended its two-session decline, climbing to Rs 1,49,300 per 10 grams from Tuesday's closing level of Rs 1,48,600.

Silver, however, remained unchanged for the second straight session at Rs 2.32 lakh per kilogram. Experts pointed out that movements in the US dollar kept a lid on the upside.

Gaurav Garg, Head of Research at Lemonn, stated that gold was holding around USD 4,195 an ounce and remained on track to end September by more than 5 per cent lower. This reflected a tug-of-war between supportive factors and persistent headwinds.