NEW DELHI, JUNE 2 : Gold prices rebounded by Rs 1,050 to Rs 1.61 lakh per 10 grams in the national capital on Tuesday, supported by firm global cues and a weaker US dollar.
According to the All India Sarafa Association, gold of 99.9 per cent purity rose to Rs 1,61,450 per 10 grams (inclusive of taxes), up from Monday’s closing price of Rs 1,60,400 per 10 grams.
Silver prices also climbed by Rs 1,300 to Rs 2,71,000 per kilogram (inclusive of taxes), compared to Rs 2,69,700 per kg in the previous session.
In international markets, spot gold advanced 1 per cent to USD 4,528.75 per ounce, while silver gained 2 per cent to USD 76.29 per ounce.
Analysts noted that gold remained steady above the USD 4,500 per ounce mark in overseas trade, with prices moving in a narrow range as investors awaited clarity on geopolitical developments and upcoming US economic data.
According to Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, a decline in crude oil prices, softer US Treasury yields, and a weaker dollar provided support to bullion, helping stabilise prices after the previous session’s fall.
