Gold Prices Today Surge, Silver Rates Jump, Check New Rates Here

Gold and silver futures prices in the domestic market traded with gains on Monday as covid-19 cases continued to surge forcing many countries to mull tougher restrictions.

On MCX, February gold futures jumped ₹600 to ₹50,826 per 10 gram while silver rose ₹1,700 to ₹69,800 per kg. Gold prices had been trading in a very narrow range over the past two weeks. Concerns over a surge in coronavirus cases in some parts of the world were offset by rollout of coronavirus vaccines. In the previous session, gold had risen 0.17% while silver had ended flat.

The dollar index remained weaker against rivals on Monday, making gold cheaper for holders of other currencies.

In the spot market, Gold was marginally down Rs 20 to Rs 49,678 per 10 gram in the national capital on Friday, according to HDFC Securities. Silver also declined Rs 404 to Rs 67,520 per kilogram.

Silver gained 2.4 per cent to $26.98 an ounce. Platinum gained 0.6 per cent to $1,075.15 and palladium rose 0.6 per cent at $2,461.95.

Gold logged over 25% gains last year while silver zoomed about 50%. Some analysts remain positive on gold for this year. “The environment of ultra-loose monetary policy and real rates in negative territory is here to stay for the year ahead that is likely to favor gold,” Religare Broking said in a note.

(With Agency Inputs)

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