Gold Prices Bounce Back Amid Global Trends

Gold prices rose by Rs 235 to Rs 90,685 per 10 grams, ending a four-day losing streak amid firm global trends. Traders attribute the rebound to fresh buying and global market influences. Silver also saw recovery, with prices increasing by Rs 1,500. Key global factors continue to impact market trends.

Gold prices experienced a notable recovery, climbing Rs 235 to settle at Rs 90,685 per 10 grams on Wednesday, effectively putting an end to a four-day streak of losses. This rebound aligns with firm global trends, confirmed the All India Sarafa Association.

Previously, gold of 99.9% purity concluded at Rs 90,450 per 10 grams on Tuesday, while gold of 99.5% purity increased similarly to Rs 90,235 per 10 grams from Rs 90,000. This uptick is largely due to renewed retailer buying following recent price declines, as well as positive global market conditions.

Parallelly, silver prices also saw a resurgence by Rs 1,500, reaching Rs 1,01,500 per kg, from Tuesday's Rs 1,00,000 per kg. The global spot gold traded slightly higher, and Comex futures indicated a positive trend, largely driven by safe-haven demands and economic factors such as US tariff decisions and geopolitical tensions in Eastern Europe.

(With inputs from agencies.)