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Gold & Silver rates on 11.02.2022

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            On Friday, February 11, 2022, both gold and silver are trading on the bottom side of the Multi Commodity Exchange (MCX).

On the MCX, gold futures maturing on April 5, 2022 are selling at Rs 48,767 per 10 grammes, a decline of Rs 249 or 0.51 percent.

Meanwhile, the price of silver futures, which mature on March 4, 2022, was Rs 63,000 per kg, down 1.03 percent or Rs 653.

Notably, when the market closed on Thursday, February 10, gold and silver were priced at Rs 48,955 per 10 grams and Rs 63,266 per kilogram, respectively.

In Chennai 10 grams of 22 carats gold costs Rs 46,010 and silver per kg Rs 66,800. In Delhi and Mumbai costs Rs 45,800 and Rs 62,700.

According to Reuters, gold prices fell on Friday as a stronger-than-expected U.S. inflation figure and hawkish comments from a Federal Reserve member raised the prospects of a significant interest rate hike next month, driving Treasury rates higher.

According to the most recent metal report, spot gold slipped 0.1 percent to $1,825.29 per ounce. Meanwhile, gold futures in the United States fell 0.7 percent to $1,824.50.

Furthermore, silver declined 0.3 percent to $23.12 per ounce.

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