Gold Prices Rebound in India as US Dollar Weakness Persists

Gold prices rebounded in India's national capital on Monday by Rs 600 to Rs 1,56,800 per 10 grams as a weak US dollar and firm global trends boosted demand for bullion.

The yellow metal of 99.9% purity had closed at Rs 1,56,200 per 10 grams on Friday, according to local traders.

Analysts pointed out that the recovery was supported by a softer US dollar, which is trading under pressure following weaker economic indicators such as moderate inflation data and softer employment and retail sales figures.

Spot gold traded 0.48% higher at USD 4,397.59 per ounce, while silver rose more than 1% to USD 65.58 per ounce in international markets.