Gold, Silver Rate Today Highlights: Gold and silver prices on the Multi Commodity Exchange (MCX) continue to hit record highs led by strong demand for the precious metals. MCX gold rate touched a record high of ₹1,43,590 per 10 grams level, while MCX silver rate touched a life-time high of ₹2,91,406 per kg on Wednesday.
In the domestic market, MCX gold prices gained 0.67% to ₹1,43,201 per 10 grams, while MCX silver rate jumped 5% to ₹2,89,000 per kg on Wednesday. The Indian stock market closed for a holiday today, 15 January 2025. The trading in commodity markets will begin in the evening session at 5 PM.
In the international markets, gold prices declined and silver prices slipped on Thursday as investors booked profits after multiple sessions of record highs. The fall in gold prices came amid an apparent softer tone from the US President Donald Trump on the Federal Reserve chair Jerome Powell, dampening safe-haven demand for bullion.
Trump said that he has no plans to fire Powell despite a Justice Department criminal investigation, but it was “too early” to say what he would ultimately do, Reuters reported. Meanwhile, the US Supreme Court did not rule on the closely watched legal challenge to Trump’s tariffs.
Spot gold prices fell 0.6% to $4,594.66 per ounce. In the previous session, bullion hit a record high of $4,642.72. US gold futures for February delivery eased 0.8% to $4,599.50.
Silver prices also retreated sharply after surging to a record high in the previous session, as the US held off from imposing tariffs on imports of critical minerals. Spot silver fell 5.3% to $87.88 per ounce after hitting an all-time high of $93.57 earlier in the session. Silver prices have surged more than 20% over the previous four sessions.
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