Gold Rises Rs 3,400 as US Treasury Yields Decline
Gold prices in India's national capital rose sharply by Rs 3,400 to Rs 1.59 lakh per 10 grams on Thursday, marking a rebound after six consecutive sessions of losses.
The yellow metal of 99.9 percent purity had been trading at Rs 1,56,100 per 10 grams on Wednesday but surged to Rs 1,59,500 per 10 grams as the global trend turned positive.
Silver prices also recovered, gaining Rs 5,000 to Rs 2,40,500 per kilogram from its previous closing level of Rs 2,35,500 per kg.
The rebound in gold and silver is attributed to a decline in US Treasury yields and continued geopolitical tensions that have driven demand for safe-haven assets like gold.
Gaurav Garg, Head of Research at Lemonn, said the recovery highlights gold's sensitivity to shifts in US monetary-policy expectations. Weaker-than-expected private employment data has challenged the hawkish Fed narrative, pushing the dollar and Treasury yields lower, he added.