Gold Prices Today: Gold, Silver Futures Decline On Global Cues

Gold and silver futures traded lower on Wednesday, February 23, taking cues from the international spot rates.

Gold Price In India: Gold and silver futures traded lower on Wednesday, February 23, taking cues from the international spot rates. On the Multi Commodity Exchange (MCX), gold futures, due for an April 5 delivery, were last seen 0.31 per cent lower at Rs 50,172, compared to the previous close of Rs 50,328. Silver futures, due for a March 4 delivery, were last seen 0.18 per cent down at Rs 64,227 against the previous close of Rs 64,345.

Foreign Exchange Rates:

Globally, gold was flat, holding near a nine-month high hit in the last session, as safe-haven demand was offset by a rise in Treasury yields following the first wave of U.S. and European sanctions on Russia for sending troops into eastern Ukraine. The U.S., the European Union and Britain announced plans to target banks and elites while Germany halted a major gas pipeline project from Russia.

Spot gold was little changed at $1,898.63 per ounce, after scaling its highest since June 1 at $1,913.89 per ounce on Tuesday. U.S. gold futures shed 0.3 per cent to $1,901.90.