Gold, silver prices today: Yellow metal records hike, silver rates dip on MCX | Check latest rates here
India Today
On Monday, January 24, 2022, while gold witnessed a hike, silver rates are retailing on the lower side of the Multi Commodity Exchange (MCX). Check the latest city-wise rates here.
On Monday, January 24, 2022, gold prices have recorded a hike and silver rates are retailing on the lower side of the Multi Commodity Exchange (MCX).
Witnessing a marginal hike of Rs 53 or 0.11 per cent, gold futures maturing on February 4, 2022, are retailing at Rs 48,323 per 10 grams.
Meanwhile, silver futures maturing on March 4, 2022, are trading at Rs 64,666 per kg on the MCX, recording a dip of Rs 157 or 0.24 per cent.
Notably, the prices of gold and silver stood at Rs 48,249 per 10 grams and Rs 64,806 per kg respectively when the market closed on January 21.
As per Reuters, gold was little changed on Monday, as investors awaited the U.S. Federal Reserve's meeting for confirmation on its interest rate hike path.
As per the latest metal report, spot gold was flat at $1,833.36 per ounce. Meanwhile, US gold futures were up 0.2 per cent to $1,834.70.
Gold is generally seen as an inflationary hedge, but it is highly sensitive to rising U.S interest rates, which increases the opportunity cost of holding non-interest bearing bullion. However, gold was sold at a discount last week, as a rise in domestic prices dulled demand, with jewellers looking ahead to the country's annual budget, news agency Reuters reported.