Gold Prices Rebound in New Delhi as Dollar Weakens

Gold prices rebounded in New Delhi on Friday after four consecutive sessions of losses, rising by Rs 200 to Rs 1,52,600 per 10 grams. The recovery was attributed to a weaker US dollar and easing crude oil prices.

The precious metal had closed at Rs 1,52,400 per 10 grams in the preceding session, but Friday's gain marked a modest increase. Silver prices remained unchanged at Rs 2.37 lakh per kilogram, inclusive of all taxes.

According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, gold prices saw a recovery as some key challenges diminished. However, he added that the precious metal is still on track for a weekly decline due to a significant rise in the dollar earlier in the week.

In overseas markets, spot gold gained USD 27.73, or nearly 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, said that the rebound was supported by a softer US dollar and stabilisation in bond markets.