Silver rebounds Rs1,800; gold eases Rs650

New Delhi: Silver prices rebounded by Rs 1,800 to Rs 2.40 lakh per kg while gold prices dropped by Rs 650 to Rs 1.52 lakh per 10 grams in the national capital, according to the All India Sarafa Association.

The white metal prices increased by Rs 1,800, or nearly 1 per cent, to Rs 2,40,500 per kg from Thursday’s closing level of Rs 2,38,700 per kg.However, gold of 99.9 per cent purity extended its losses for the third consecutive day, declining by Rs 650, or 0.42 per cent, to Rs 1,52,650 per 10 grams.

The yellow metal had settled at Rs 1,53,300 per 10 grams in the previous session.Analysts said gold prices remain under pressure due to macroeconomic uncertainties and global cues favouring the US dollar.In the international market, spot silver slipped nearly 1 per cent to trade at USD 72.18 per ounce, while gold was trading 0.27 per cent higher at USD 4,663.54 per ounce.”

The precious metal complex continues to face stiff headwinds from the ongoing US-Israel-Iran conflict, which has moved capital into the haven dollar and crude oil,” Dilip Parmar, Senior Research Analyst, HDFC Securities, said.