Silver jumps Rs 6,000; gold rebounds Rs 1,050

New Delhi: Precious metal prices rebounded by up to 2 per cent, with silver gaining by Rs 6,000 to Rs 2.62 lakh per kilogram, and gold rose to Rs 1.61 lakh per 10 grams in the national capital on Tuesday, according to the All India Sarafa Association.

The white metal increased by Rs 6,000, or 2.34 per cent, to Rs 2,62,500 per kg. Gold of 99.9 per cent purity in the bullion market also snapped its three-day losing streak, rising by Rs 1,050, or nearly 1 per cent, to Rs 1,61,300 per 10 grams.

Analysts said the rebound in bullion prices was supported by safe-haven demand amid geopolitical tensions, even as global cues remained subdued. In the international market, spot gold was trading marginally lower at USD 5,003.68 per ounce, and silver also went lower by 0.35 per cent, to USD 80.46 per ounce.

In the domestic markets, a softening rupee has helped spot gold prices decouple from global weakness, though one can expect further consolidation within a wide range until the Fed provides clear guidance, Dilip Parmar, Senior Research Analyst, HDFC Securities, said.