Gold and Silver Prices Rebound in New Delhi

Gold and silver prices rebounded sharply in New Delhi on Friday following a recent sell-off. Gold increased by Rs 1,600 to reach Rs 1,56,600 per 10 grams, while silver climbed Rs 5,000 to Rs 2,47,000 per kilogram.

The Federal Reserve System recently implemented an interest rate hike and hawkish monetary policy, which initially pressured bullion. However, the current recovery was driven by a third consecutive session of falling crude oil prices, which dropped to approximately $101 per barrel. This decline, supported by the expected restoration of oil supplies by the Government of Saudi Arabia, reduced immediate concerns regarding inflation and supply disruptions.

Domestic gains mirrored global trends, with spot gold rising 1.17% to $4,392.78 per ounce and silver advancing 3.10% to $67.21. Gold-backed exchange-traded funds recorded net inflows for the eighth straight day, bringing global holdings to 100.39 million ounces. Despite the rally, elevated US dollar levels and Treasury yields continue to cap further gains, while geopolitical tensions in West Asia remain a persistent risk.