New Delhi, Jun 4 (PTI) Gold prices resumed its seesawing movement in the national capital, rebounding above the Rs 1.6 lakh per-10-gram-mark on Thursday as easing crude oil rates offered support amid persistent uncertainty over developments in West Asia.

Gold of 99.9 per cent purity rose Rs 700 to Rs 1,60,300 per 10 grams (inclusive of all taxes), according to the All India Sarafa Association.

The gain partially reversed Wednesday's Rs 1,850 fall and followed a Rs 1,050 rise on Tuesday, highlighting the volatile trading pattern that has gripped precious metals during this week.

The rebound in gold came as crude oil eased following a conditional ceasefire between Israel and Lebanon. However, the broader geopolitical backdrop remained uncertain.

Israeli Prime Minister Benjamin Netanyahu said Iran has yet to agree to remove enriched uranium, while negotiations involving Tehran remained unresolved.

However, silver prices moved in the opposite direction, extending losses for the second straight session by Rs 3,800, or 1.14 per cent, to Rs 2,65,700 per kilogram after declining Rs 1,500 in the previous session, as per the association.

"Gold prices remained range-bound after finding mild support from a decline in crude oil prices," Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities, said.

In the international markets, spot gold gained nearly 1 per cent to quote at USD 4,471.79 per ounce, and silver rose 1.14 per cent to USD 73.56 per ounce.

Gold prices recovered after crude oil rates eased, though expectations of tighter US monetary policy and lingering uncertainty surrounding US-Iran negotiations could limit further gains, Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, said.

Investors are awaiting the Reserve Bank of India's policy decision, along with US non-farm payrolls and unemployment numbers, due on Friday, for fresh cues on interest rates and the next move in precious metals, Trivedi said. PTI HG TRB

Gold prices rebound on easing crude oil, while West Asia uncertainty and policy signals keep precious metals volatile. Gold prices resumed their volatile movement and rose above the Rs 1.6 lakh per 10 grams mark as easing crude oil rates provided support. Silver extended losses for a second straight session, while market participants tracked West Asia uncertainty, tighter US monetary policy expectations, unresolved US-Iran negotiations, and the Reserve Bank of India's policy decision for further direction.