Gold Rebounds After Weekly Losing Streak: India Rates on 27 June

Gold climbed 1.6% to $4,089.80 an ounce on Friday, extending gains after U.S. inflation data quieted concerns about Federal Reserve rate hikes. The rebound followed a slide that took bullion to its lowest since November 2025 last week, according to a Bloomberg report.

Silver rose 2.2% to $59.15 an ounce. Platinum and palladium also gained. Volatility in tech stocks and AI-related names pushed investors toward safe havens, the report said.

The weekly picture remained bearish. Gold was on track for a fourth straight weekly decline, the longest such streak since August 2023. Friday's rally cut the loss but did not erase it.

The underlying trend in gold has been lower since early 2026, pressured by a strong dollar and higher real yields. Friday's bounce may be a relief rally within that downtrend. The catalyst was a softer-than-expected U.S. inflation print that reduced the probability of another rate hike.

In India, gold prices tracked the global move. 24-karat gold in Mumbai traded at ₹1,44,300 per 10 grams on Saturday. Silver 999 Fine was at ₹2,22,850 per kilogram. Rates in Delhi, Bengaluru, Chennai, Kolkata, Hyderabad, and Ahmedabad were within a narrow band of ₹1,44,000–1,44,720 for 24K gold. The India premium over international prices remained modest, suggesting local demand was not a driver of the global move.

Chart watchers said a close above $4,150 would break the near-term downtrend. A drop back below $4,000 would signal the selloff is resuming. The next catalyst is the U.S. jobs report due July 3.