Gold Price Today: Yellow metal prices open at Rs 86,487/10 grams, silver at Rs 96,903/kg
On Wednesday, gold and silver settled on a weaker note in the domestic and international markets. Gold April futures contract settled at Rs 85,910 per 10 grams with a loss of 0.24% and silver March futures contract settled at Rs 96,406 per kilogram with a loss of 0.46%.
Gold and silver showed mild profit-taking amid hawkish comments on the Federal fund rates in the January monetary policy meeting minutes released on Wednesday. The U.S. Fed said that the inflation reading is higher and will watch out for more economic data before the next easing.
“The dollar index and the U.S. bond yields gained after FOMC minutes and pushed gold and silver prices lower. However, safe-haven buying due to U.S. tariff uncertainty is supporting prices of gold and silver,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
On Thursday, the US Dollar Index, DXY, was hovering near the 107.07 mark, falling 0.11 or 0.10%.
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