New Delhi: After remaining stable on Monday, January 23, gold prices soared to a fresh high on Tuesday, January 24 to breach the Rs 57,000 per 10 grams mark. Gold futures on the Multi Commodity Exchange hit an all-time high of Rs 57,099 per 10 grams. On Friday too, prices of the yellow metal had hit a fresh high of Rs 56,746 per 10 grams.
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The rally in yellow metal in the last few weeks could be attributed to a weaker Dollar and sluggish US yields. Gold prices jumped tracking gains in overseas markets and a depreciation in the rupee currency. However, the surge dampened demand in the world’s second biggest consumer of the precious metal.
Silver also gained as the precious metal was up 0.55 per cent at Rs 68,340 per kg at 10:41 am on the MCX. The precious metal had touched a high of Rs 68,420 per kg during intraday trade.
Gold, Silver prices in international markets
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In international markets, gold prices edged up on Tuesday as the dollar weakened, while investors awaited US economic data amid hopes of slower interest rate hikes by the Federal Reserve. Spot gold rose 0.2 per cent to $1,935.69 per ounce.
Spot silver gained 0.4 per cent to $23.54 per ounce.
