Market Update: Gold Price Remains Stable and Rise in Silver

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On Tuesday, the gold price remained unchanged at Rs 63,200 per 10 grams in Delhi, as reported by HDFC Securities. Meanwhile, silver saw an increase of Rs 450 per kilogram, reaching Rs 76,750; it had settled at Rs 76,300 in the previous trade.

In the futures market, the February gold price contract rose by Rs 261 to reach Rs 62,356 per 10 grams on the MCX. Additionally, the March silver contract advanced by Rs 176, reaching Rs 72,603 per kilogram on the exchange.

In the global markets, gold and silver are trading slightly higher at USD 2,031 per ounce and USD 23.10 per ounce, respectively.

Spot gold at Comex is currently trading at USD 2,031 per ounce, up by USD 2 from the previous close in the international markets.

Navneet Damani, senior VP of commodity research at Motilal Oswal Financial Services, mentioned that gold traded steadily after a slight decrease in the previous session. This was due to stronger-than-expected US labor data, causing markets to reconsider expectations for early cuts in monetary policy interest rates.

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