New Delhi, Oct 23: Gold and silver futures rebounded on Thursday after sharp declines earlier in the week, driven by value buying amid ongoing geopolitical uncertainties.
On the MCX, December gold surged 1.72% to ₹1,23,950 per 10 grams, while December silver rose 2.43% to ₹1,49,090 per kilogram.
The recovery followed a steep sell-off triggered by profit-booking and optimism around US trade talks with India and China. Analysts highlighted the US-China trade standoff and potential export restrictions as key market factors ahead of high-level talks and the upcoming APEC summit.
The US dollar’s gains and reduced safe-haven demand had contributed to earlier losses.
On the international front, Comex gold rose 2.26% to USD 4,157.31 per ounce, while silver futures rebounded nearly 3% to USD 49.03 per ounce.
Both metals experienced their biggest drops in years earlier, with gold falling nearly 6% and silver over 7% amid profit-taking and liquidity issues, before Thursday’s bounce back. (PTI)
