Commodities
Gold Prices Soar as Crude Oil Falls and Bargain Buying Picks Up
Gold prices in India rebounded sharply on Wednesday, rising by Rs 1,200 to Rs 1.55 lakh per 10 grams due to bargain buying and easing crude oil prices.
The yellow metal of 99.9 per cent purity gained Rs 1,200 from Tuesday's closing level of Rs 1,54,400 per 10 grams, said local traders.
Silver also surged by Rs 7,400 to Rs 2.42 lakh per kilogram against the previous close of Rs 2,34,600 per kg.
The rebound in gold prices was attributed to a pullback in crude oil prices and a softer tone in US Treasury yields ahead of the US Federal Reserve's policy decision.