Bullion futures snap losing trend

Gold prices rebounded in futures trade, gaining Rs 922 to Rs 1.56 lakh per 10 grams, snapping a three-day losing streak amid persistent geopolitical tensions in West Asia. On the Multi Commodity Exchange, the yellow metal for April delivery increased 0.59 per cent in 7,761 lots.

Silver price climbed Rs 2,168 to Rs 2.58 lakh per kilogram in futures trade, snapping a four-day losing streak, driven by renewed safe-haven buying amid intensifying geopolitical tensions in West Asia.

The white metal for May delivery appreciated nearly 1 per cent in 5,995 lots. Silver witnessed strong volatility in the intraday session, soaring by Rs 6,367, or 2.5 per cent, to hit a high of Rs 2,62,899 per kg.

Gold prices saw a modest uptick on Tuesday, driven primarily by ongoing geopolitical tensions in West Asia and the implications of US Federal Reserve rate cut expectations, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.