Gold price today: Yellow metal slips Below Rs 49,400, check rates in your city

Gold Price Today: Gold inched lower on Friday after witnessing a marginal hiked on Thursday. At the Multi-Commodity Exchange (MCX), the yellow metal was down Rs 88 or 0.18 per cent at Rs 49,360 per 10 grams. 

On the other hand, silver futures was trading 0.77 per cent lower at Rs 66,784 per kilogram.

Friday saw a marginal hike in 24-karat gold futures by 0.12 per cent, taking it to Rs 48,960 per grams. Whereas silver prices edged 0.37 per cent higher at Rs 65,674 per kg.

As for the prices, the cost for 10 grams of 22-karat gold in Delhi stands at Rs 48,410, while in Mumbai it slumped to Rs 48,610.

Here the gold prices today, January 22, 2021, in major cities

Expert Anuj Gupta, Deputy Vice President, Commodity and Currency Research at Angel Broking has told Zee Business that the yellow metal is going strong and people looking to invest in gold and silver can now go ahead and buy. He said that people can earn good returns if they purchase gold and silver now.

The spot price is expected to reach between Rs 51,000 and Rs 52,000 over the next 15 days, Gupta says.

Another expert Amit Sajeja, Vice President -Research, Commodity and Currency at Motilal Oswal said that Gold and Silver will trade with a positive bias. 

Gold prices continue to hover near two-week highs on stimulus plans anticipated from the Joe Biden administration and a broad commodities rally spurred by the inauguration of the 46th US President, Sajeja said.