Gold Price On February 16, 2022: Yellow Metal Continues With Rising Trend On Ukraine-Russia Conflict
Gold prices on Wednesday February 16, 2022 continued with their rising trends, as MCX futures were up by 0.6 per cent to reach Rs 50,205 per 10 gram. Silver also rose by 0.54 per cent to reach Rs 64,580 per kg. In seven days, gold has risen by around Rs 2,500 per 10 gram.
Spot gold was down 0.1 per cent at $1,850.91 per ounce. Yellow metal prices had rallied to their highest since June last year on Tuesday, buoyed by safe-haven demand, before giving up all those gains on news indicating some easing in Russia-Ukraine tensions, Reuters reported.
The slippage in gold prices led them to pull further away from an eight-month peak scaled in the previous session.
Among other precious metals, spot silver fell 0.2 per cent to $23.30 per ounce and platinum dipped 0.4 per cent to $1,021.92.
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