NE Watch Desk
The Indian precious metals market witnessed
divergent movements, with gold marking an upswing while silver experienced a
decline on the Multi Commodity Exchange or MCX on Thursday.
Gold futures, set to mature on February
5, reached Rs 61,589 per 10 grams, reflecting a slight increase of Rs 35 or
0.06 per cent. The previous closing stood at Rs 61,505.
In contrast, silver futures, scheduled
for March 5, saw a downturn of Rs 44 or 0.06 per cent, trading at Rs 71,533 per
kg on the MCX, compared to the previous close of Rs 71,456.
The pricing of gold exhibits variations
across different regions in the country, influenced by factors such as excise
duty, making charges, and state taxes.
For 10 grams of 22-carat gold:
New Delhi: Rs 57,550
Mumbai: Rs
57,400
Kolkata: Rs 57,400
Chennai: Rs 57,800
For one kilogram of silver:
New Delhi: Rs 75,500
Mumbai: Rs
75,500
Kolkata: Rs 75,500
Chennai: Rs 77,000
Global Market Update On Gold & Silver Prices
In the global scenario, gold prices
remained near five-week lows due to hawkish remarks from Federal Reserve
officials and strong economic data, reducing expectations for early and
substantial interest rate cuts in the US this year, as reported by Reuters.
Spot gold slightly increased by 0.1 per
cent to $2,008.59 per ounce by 0347 GMT, a day after hitting $2,001.72, its
lowest level since December 13.
US gold futures rose 0.2 per cent to
$2,010.70.
Meanwhile, silver witnessed a 0.4 per
cent rise to $22.61 per ounce, alongside other precious metals.
