Tue. Jan 31st, 2023

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Gold prices today rise for 3rd day in a row but down ₹4000 from record highs

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Gold and silver prices in Indian markets moved higher today amid steady global rates. On MCX, October gold futures rose 0.7% to regain 52,000 levels per 10 gram, extending gains to the third day. Silver futures on MCX jumped 1.2% to 71,300 per kg. In the previous session, gold had risen 300 per 10 gram while silver had jumped 1,800 per kg. Though gold has bounced back from recent lows, it is still down 4,000 from August 7 highs of 56,200 per 10 gram.

In global markets, gold prices remained almost unchanged at near two-week high, supported by a weak US dollar. Spot gold was steady at $1,968.98 per ounce. The dollar index fell to a near two-year low at 91.81 against a basket of other currencies, making gold less expensive for holders of other currencies.

Among other precious metals, silver fell 0.2% to $28.17 per ounce, platinum rose 0.3% to $931.87, and palladium dropped 0.3% to $2,235.64.


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