New Delhi: Gold prices rebounded in futures trade on Tuesday, ending a three session decline as geopolitical tensions in West Asia and global economic uncertainties supported investor demand for the safe haven asset.
On the Multi Commodity Exchange, gold contracts for April delivery rose by ₹922, or 0.59 per cent, to ₹1,56,658 per 10 grams, reflecting renewed buying interest in the market.
Analysts attributed the recovery to heightened geopolitical risks and expectations surrounding interest rate decisions by major central banks. Concerns over rising crude oil prices have also added to inflationary pressures, influencing sentiment in the bullion market.
In the global market, gold prices saw a modest recovery after recent losses, with futures inching higher as investors reassessed risk amid ongoing tensions and policy uncertainties. Market participants are closely tracking signals from the Federal Reserve and other key institutions such as the European Central Bank, Bank of England and Bank of Japan for further direction.
Experts noted that while gold briefly crossed key resistance levels internationally, it struggled to sustain lower ranges, suggesting near-term consolidation. However, underlying uncertainty in global markets continues to lend support to prices, even as traders remain cautious about the short-term outlook.