Gold Price Today: Yellow metal increases by Rs 158, Silver falls - Check rate in Delhi, Mumbai and other cities

Gold Price Today: Gold prices on Thursday, January 19, increased by Rs 158 to Rs 56,444 per 10 grams in the futures trade. The rise in the price of the precious metal was because speculators created fresh positions on a firm spot demand.

On MCX, Gold February Future was trading up by 28 percent to Rs 56,444 per 10 grams in the afternoon trade. In contrast to this, Silver March futures dipped 0.27% to Rs 68,043 per kg.

Gold, Silver Prices Globally
In the international market, Gold prices inched higher as investors weighed the chances of the U.S. Federal Reserve slowing its pace of interest rate hikes.

Spot Gold was up 0.3% at $1,908.54 per ounce, as of 0725 GMT. Whereas Spot Silver lost 0.3% to $23.36 per ounce.

U.S. Gold Futures rose 0.2% to $1,909.90.

Few Fed officials signalled on Wednesday that they would push on with more interest rate hikes, while Philadelphia Fed President Patrick Harker and Dallas Fed President Lorie Logan said they supported a slower pace of tightening, said Reuters.

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Traders are mostly pricing in a 25-basis point rate hike at the Fed’s Jan 31 - Feb 1 meeting, Reuters reported. Last year, the U.S. central bank slowed its pace of hikes to 50 bps in December after four straight 75-bp increases.

Gold Price City-wise In India as of January 19, 2022, for 24k:

Chennai- Rs 57,710

Mumbai- Rs 56,730

Delhi- Rs 56,890

Kolkata- Rs 56,730

Bangalore- Rs 56,780

Hyderabad- Rs 56,730

Kerala- Rs 56,730

Pune- Rs 56,730

Vadodara- Rs 56,780

Ahmedabad- Rs 56,780

Lucknow- Rs 56,890

Vijayawada- Rs 56,730

Patna- Rs 56,780

Nagpur- Rs 56,730

Chandigarh- Rs 56,890

Surat- Rs 56,780

Bhubaneswar- Rs 56,730

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Visakhapatnam- Rs 56,730

Nashik- Rs 56,760

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

(With inputs from Reuters)