Gold Price Today (February 7): Yellow metal recovers on softer dollar as traders await economic cues - Check rate in Delhi, Mumbai and other cities

Gold Price Today February 7: Gold price rose for a second consecutive session on Tuesday, February 7. The recovery in the price of the precious metal is supported by a softer dollar after recent sharp losses, while traders awaited more economic data to gauge its likely influence on U.S. interest rates.

According to Reuters, spot gold was up 0.4% to $1,875.36 per ounce by 0940 GMT, after hitting its lowest level since January 6 on Monday. While spot silver rose 0.3% to $22.3363 per ounce. U.S. gold futures edged 0.3% higher to $1,874.30.

While a weaker dollar is “modestly supporting gold,” a further move up would require weaker U.S. data or a faster drop in inflation, which would ease fears of monetary tightening by the Federal Reserve, UBS analyst Giovanni Staunovo told Reuters.

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Gold Silver Price On MCX

On Multi Commodity Exchange of India Limited (MCX), Gold April Futures were up by 0.35 percent to Rs 57,153 per 10 grams in the afternoon trade of February 7. Likewise, Silver March futures on MCX were up by 0.45 percent to Rs 67,705 per kg.

Gold Price City-wise In India as of February 7, 2022, for 24k:

Chennai- Rs 58,620

Mumbai- Rs 57,550

Delhi- Rs 57,700

Kolkata- Rs 57,550

Bangalore- Rs 57,600

Hyderabad- Rs 57,550

Kerala- Rs 57,550

Pune- Rs 57,550

Vadodara- Rs 57,600

Ahmedabad- Rs 57,600

Lucknow- Rs 57,700

Vijayawada- Rs 57,550

Patna- Rs 57,600

Nagpur- Rs 57,550

Chandigarh- Rs 57,700

Surat- Rs 57,600

Bhubaneswar- Rs 57,550

Visakhapatnam- Rs 57,550

Nashik- Rs 57,580

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)

(With Reuters inputs)

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