Gold prices rebounded by ₹1,997 to ₹1.41 lakh per 10 grams in futures trade on Friday, tracking gains in global markets and bargain buying by traders after a sharp decline.
The yellow metal for April delivery increased ₹1,997, or 1.43 per cent, to ₹1,41,490 per 10 grams on the Multi Commodity Exchange (MCX), while the June contract also appreciated by ₹1,811, or 1.27 per cent, to ₹1,44,325 per 10 grams.
Gold prices rose above USD 4,400 per ounce after a sharp decline in the previous session, as US President Donald Trump pushed back his deadline for Iran to secure a deal to end the war.
Trump's move provided some relief to markets unsettled by nearly a month of hostilities, and gold futures may extend gains in the near term tracking strength in the overseas markets, according to Jigar Trivedi, Senior Research Analyst at IndusInd Securities.
