Gold prices rebounded on Tuesday after three straight sessions of losses, tracking firm global cues, according to the All India Sarafa Association. The yellow metal rose by Rs 40 to Rs 88,790 per 10 grams in the national capital, up from Monday's close of Rs 88,750.
Gold of 99.5% purity also gained Rs 40, settling at Rs 88,390 per 10 grams.
In contrast, silver extended its decline, slipping by Rs 350 to Rs 98,900 per kg. The white metal had closed at Rs 99,250 per kg in the previous session.
Globally, gold prices were higher as concerns over trade tariffs and a weaker dollar boosted demand for safe-haven assets. On Comex, gold futures for April delivery climbed $19.30, or 0.67%, to $2,918.70 per ounce. Spot gold also gained 0.82% to $2,912.43 per ounce.
“Gold prices edged up as weakness in the dollar index and growing tariff tensions in the US stoked safe-haven buying. ETF inflows are also supporting bullish momentum,” said Jateen Trivedi, VP Research Analyst—Commodity and Currency at LKP Securities.
Silver futures on Comex were also trading firm during Asian hours, rising 1.44% to $33 per ounce.
Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, noted that investors are closely tracking US President Donald Trump's tariff-related statements, adding to the market's cautious mood. “Additionally, US job openings data, due later today, could offer further cues,” he added.
(With text inputs from PTI.)
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