Gold rebounds ₹2.6K on strong global cues

Gold prices on Wednesday rebounded by Rs 2,600 to Rs 1,24,400 per 10 gm in the national capital, snapping a two-session losing streak, amid a fresh wave of safe-haven buying ahead of the policy outcome by the US Federal Reserve.

Gold of 99.5 per cent purity appreciated by Rs 2,600 to Rs 1,23,800 per 10 gm (inclusive of all taxes) from the previous close of Rs 1,21,200 per 10 gm, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 1,21,800 per 10 gm on Tuesday. Silver also witnessed a sharp rebound as prices surged by Rs 6,700 to Rs 1,51,700 per kg (inclusive of all taxes).

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