Gold prices in India was trading flat at Rs 1,30,090 and silver gained at Rs 1,81,400 on Tuesday, according to the India Bullion Association. However, silver in the spot market declined to trade at $58.11.
Meanwhile, Spot gold price rose on Tuesday to trade around $4,195 an ounce. Despite the pull back from record high last month gold remains on course for its strongest annual gain since 1979, having reached a series of record highs before retreating last month. US rate cuts have underpinned prices, which have also been buoyed by inflows into bullion-backed exchange-traded funds and sustained central bank buying.
Gold Price Today: Delhi, Mumbai, Chennai Prices
In New Delhi, the price stood at Rs 1,29,590, per 10 gm, and in Mumbai, it stood at Rs 1,29,820 on Tuesday.
In Bengaluru, the rate stood at Rs 1,29,920, while in Kolkata, it was Rs 1,29,640 per 10 gm. The price of the precious commodity in Chennai was the highest at Rs 1,30,190 per 10 gm.
The Feb. 5 futures fell to Rs 1,29,920 according to the Multi-Commodity Exchange. The spot prices of the yellow metal were $4,195 on Tuesday, according to Bloomberg.
Silver Price Today: Spot and Future Prices
The precious metal's price rose on Tuesday and was trading at Rs 1,81,400 per kilogram on Dec. 9, according to the India Bullion Association. The metal had hit a record high last week after a trading outage on the Chicago Mercantile Exchange due a data-center fault adding to the ongoing supply shortage.
March 5 futures for silver were trading lower at Rs 1,81,625, according to the Multi-Commodity Exchange, while Spot silver was down 0.06% at $58.11, giving up the gains of the previous session.
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