Gold, Silver Prices Rebound Amid Weaker Dollar and Lower Oil

Gold and silver prices have rebounded in India after two consecutive sessions of losses. On Monday, gold prices surged by Rs 2,440 to reach Rs 1.49 lakh per 10 grams, while silver prices climbed Rs 5,300 to touch Rs 2.3 lakh per kg.

The All India Sarafa Association reported that gold of 99.9% purity jumped to Rs 1,49,640 per 10 grams (inclusive of all taxes) from the previous session's closing price of Rs 1,47,200 per 10 grams.

Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, attributed the rebound in gold prices to easing inflation concerns as crude oil prices retreated. He also mentioned that a weak US dollar and lower Treasury bond yields provided further support for bullion.