gold Prices of silver saw an increase on Tuesday, while silver prices on the Multi Commodity Exchange (MCX) have registered a fall. With a marginal increase of Rs 52 or 0.11 per cent, gold futures maturing on April 5, 2022 are retailing at Rs 48,300 per 10 grams. Meanwhile, silver futures maturing on March 4, 2022 are trading at ₹ 61,920 per kg on MCX. In this, a fall of Rs 143 or 0.23 percent is being seen. When the markets were closed on Monday, the prices of gold and silver were ₹48,228 per 10 grams and ₹62,035 per kg, respectively.
Meanwhile, global gold held steady on Tuesday as Russia-Ukraine concerns supported the safe-haven metal near one-week highs of the previous session, while markets await US inflation data that will reflect the Federal Reserve’s announcement. Tapering is important to the timeline.
Spot gold rose 0.1 percent to $1,821.61 an ounce as of 0.434 GMT. It reached the highest level since 26 January on Monday. According to a Reuters report, US gold futures GCv1 were stable at $1,822.50.
“Geopolitical tensions around Russia and Ukraine are driving gold prices up. In addition, investors are waiting for Thursday’s US inflation data,” said Margaret Yang, a strategist at DailyFX. Inflation in January is expected to be higher than the December level.