Gold Price Surge: Gold Rebounds by Rs 2,440 to Rs 1.49 Lakh per 10 Grams

Gold prices rebounded by Rs 2,440 to Rs 1.49 lakh per 10 grams while silver prices climbed Rs 5,300 to Rs 2.3 lakh per kg in India's national capital on Monday following strong trends in global markets.

The precious metals rebounded after two consecutive sessions of losses amid easing inflation concerns as crude oil prices retreated, boosting investor sentiment.

According to the All India Sarafa Association, gold of 99.9% purity jumped Rs 2,440 to Rs 1,49,640 per 10 grams (inclusive of all taxes), while silver prices rebounded by Rs 5,300 to Rs 2,30,000 per kg (inclusive of all taxes) from Friday's closing level of Rs 2,24,700 per kg.

Analysts said that 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.