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Commodities

Gold, Silver Prices Rebound as Crude Oil Retreats

Guavy AI Editorial Team
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Gold and silver prices rebounded in India on Monday, driven by strong global trends and easing inflation concerns. The gold price surged Rs 2,440 to Rs 1,49,640 per 10 grams, while silver climbed Rs 5,300 to Rs 2,30,000 per kg.

The gains were attributed to the retreat in crude oil prices after a temporary pause in US-Iran strikes, which eased inflation concerns and provided relief to bullion. The weak US dollar and lower Treasury bond yields also supported gold prices.

According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, 'Gold gained on Monday as easing tensions in West Asia triggered a sharp decline in crude oil prices, easing inflation concerns, while a weak US dollar and lower Treasury bond yields provided further support for bullion.'

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