Gold Prices Rebound in Delhi After Four-Day Decline; Silver Holds Steady
New Delhi, March 24: Gold prices in the national capital snapped a four-day losing streak on Tuesday, rising sharply by Rs 1,200 to reach Rs 1.44 lakh per 10 grams, according to the All India Sarafa Association. Silver prices, however, remained unchanged at Rs 2.30 lakh per kilogram.Domestic Gold Recovers on Global Cues and Value Buying
The precious metal with 99.9 per cent purity had settled at Rs 1,43,600 per 10 grams on Monday, inclusive of all taxes. Tuesday’s rebound reflects renewed buying interest in the domestic market after recent declines.Traders indicated that the recovery was supported by a rebound in global commodity markets, along with fresh buying at lower price levels following the recent correction.
International Gold Prices Break Losing Streak
In global markets, spot gold ended a nine-session losing streak, gaining USD 16.96 or 0.38 per cent to trade at USD 4,423.83 per ounce. Silver also moved higher, rising 1.03 per cent to USD 69.86 per ounce.According to Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, gold prices in overseas markets are stabilising around USD 4,420 per ounce. The movement is linked to cautious optimism surrounding the Iran situation after US President Donald Trump announced a five-day ceasefire on strikes targeting energy infrastructure in Iran.
Geopolitical Uncertainty Keeps Bullion Outlook Volatile
Despite the rebound, uncertainty persists over the effectiveness of the ceasefire, which continues to influence investor sentiment.Market participants note that mixed signals from geopolitical developments are likely to keep bullion prices volatile in the near term, with global cues playing a critical role in determining price direction.
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