【India】Gold and Silver Rates Today: Luster Fades, Check Today’s Prices Before Buying

A decline was recorded in the prices of gold and silver in the domestic futures market on Tuesday. This decline has come due to sluggish local demand and the absence of new triggers. On the Multi Commodity Exchange (MCX), gold with February expiry slipped 0.48 percent to trade at ₹1,33,492 per 10 grams, while silver with the March contract fell 1.64 percent to trade at ₹1,94,657 per kilogram.

Previously, on Monday, February gold on MCX had climbed to a record high of ₹1,35,496, but closed the day’s trade up 0.33 percent at ₹1,34,061. The March expiry silver closed up 2.7 percent at ₹1,98,049 per kilogram.

However, gold’s shine remains intact in the global market. With the US dollar slipping to a two-month low, gold at the international level remains strong near a record high of $4,300 per troy ounce. Investors’ eyes are now fixed on the US non-farm payroll report. This report will indicate the future course of the Federal Reserve’s monetary policy. According to CME’s FedWatch Tool, there is a 76 percent probability of a 25 basis point rate cut in January.

According to Good Returns, on Tuesday, the price of 24-carat gold in Chennai is running at ₹1,34,730 per 10 grams, while the price of 22-carat is ₹1,23,500 per 10 grams. Meanwhile, in the bullion markets of Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune, 24-carat gold is being sold at ₹1,33,860 and 22-carat gold at ₹1,22,700 per 10 grams. Along with this, in Vadodara and Ahmedabad, the price of 24-carat gold was recorded at ₹1,33,910, while the price of 22-carat gold was ₹1,22,750 per 10 grams.