On Wednesday, January 19, 2022, both gold and silver were trading on the upward side of the Multi Commodity Exchange (MCX). Gold futures, maturing on February 4, 2022, were trading at Rs 47,949 per 10 grammes on the MCX, a tiny increase of Rs 10 or 0.02 percent.
Meanwhile, silver futures, which mature on March 4, 2022, were trading at Rs 63,150 per kilogram, up 0.13 percent or Rs 84.
Notably, when the market closed on January 18, gold and silver were priced at Rs 47,950 per 10 grams and Rs 62,000 per kilogram, respectively.
According to Reuters, gold prices fell on Wednesday to a one-week low as the possibility of aggressive rate rises by the US Federal Reserve propelled benchmark Treasury rates to two-year highs, limiting the attraction of non-yielding bullion.
After sliding to a one-week low of $1,805 per ounce on Tuesday, spot gold was down 0.2% at $1,810.90 per ounce. Gold futures in the United States fell 0.1% to $1,810.80.
Spot silver was down 0.2% to $23.41 per ounce, platinum was down 0.8% to $973.64, and palladium was down 0.4% to $1,889.46.
Gold rate for per 10 grams of 22 carats of gold in major cities are, in Chennai Rs 45,320, Mumbai Rs 47,090, New Delhi Rs 47,140, Kolkata Rs 47,300.
Silver rate for per kilogram in major cities are, in Chennai Rs 66,000 and in Mumbai, Kolkata and Delhi Rs 63,200 respectively.