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Global Market Volatility Drives Fresh Movement in Precious Metals: Spot Gold at $5,202, Silver at $88.25
Gold Silver Rates Today: Gold and silver prices saw a jump. Silver rose by Rs. 6,600, while gold reached Rs. 1.61 lakh per 10 grams. Find out today's update.
Gold and silver prices increased. Silver increased by Rs. 6,600 to Rs. 2.67 lakh per kg, and gold increased by Rs. 690 to Rs. 1.61 lakh per 10 grams. On the MCX, silver decreased by Rs. 3,764 to Rs. 2.61 lakh. Gold decreased by Rs. 1,590 to Rs. 1.60 lakh per 10 grams.
In international markets, gold and silver prices also increased. Spot gold increased around 0.48% to $5,202 per ounce, and spot silver increased around 0.96% to $88.25 per ounce. Earlier on Tuesday, both metals had decreased by around 1.6%, ending their four-day winning streak.
According to market analysts, prices remained volatile due to the low likelihood of the US Federal Reserve cutting interest rates in the near future. Boston Fed President Susan Collins indicated that the Fed may keep interest rates stable for some time due to the strong labor market.
Minutes from the January Fed meeting also revealed that officials are adopting a cautious stance on rate cuts. Higher interest rates typically put pressure on non-interest-bearing safe-haven investments like gold and silver.
