New Delhi, July 20: Gold prices rebounded by Rs 1,400 to hover around Rs 1.47 lakh per 10 grams in the national capital on Monday amid firm global trends.
The yellow metal of 99.9 per cent purity climbed Rs 1,400 to Rs 1,46,900 per 10 grams (inclusive of all taxes) from Friday’s closing level of Rs 1,45,500 per 10 grams, according to the All India Sarafa Association.
However, silver depreciated by Rs 1,000 to Rs 2,21,500 per kilogram (inclusive of all taxes) , extending losses for the sixth consecutive session. It had settled at Rs 2,22,500 per kg in the previous session.
The white metal has declined by Rs 15,500, or 6.5 per cent, cumulatively since July 10.
Traders said value buying emerged in gold after last week’s sharp sell-off. However, silver continued to face liquidation, with investors weighing geopolitical risks against expectations that the Federal Reserve could keep interest rates elevated.
In the international markets, spot gold rose marginally to trade around USD 4,020 per ounce, and silver gained nearly 2 per cent at USD 56.88 per ounce. (PTI)
