Gold rebounds Rs 1,600; silver rallies Rs 5,000 on US-Iran deal hopes

NEW DELHI: (May 29) Gold prices rebounded by Rs 1,600 to Rs 1.62 lakh per 10 grams in the national capital on Friday, tracking firm global trends amid optimism over a preliminary US-Iran deal and expectations of seasonal demand in the domestic market.

According to local marketmen, the yellow metal of 99.9 per cent purity appreciated Rs 1,600 to Rs 1,62,900 per 10 grams (inclusive of all taxes) from Wednesday’s closing level of Rs 1,61,300 per 10 grams.

Silver prices also strengthened sharply, jumping Rs 5,000 to Rs 2,74,700 per kilogram (inclusive of all taxes). The white metal had settled at Rs 2,69,700 per kg in the previous session.