New Delhi: Gold and silver futures prices remained strong today due to the expectation of success in the US stimulus talks. On the Multi Commodity Exchange (MCX), February gold futures rose 0.35% to Rs 49,770 per 10 grams. This is the third consecutive day when it has registered an increase. Talking about silver, its futures price has increased by 1.2% and reached Rs 66746 per kg.
In the previous session, gold futures had gained 0.33% or Rs 160 per 10 grams, while silver had risen 1.5%, or about Rs 1,000 per kg. Today, gold prices in international markets were almost flat at a one-week high, expected to move towards fiscal stimulus deals and a weaker dollar. Spot gold touched $ 1,864.36 an ounce. The US Federal Reserve has said to keep the rates low until the economic recovery is achieved.
The FED, in its final policy meeting of the year, promised to maintain the asset-buying program on a large scale until it sees substantial progress in employment and inflation. Chairman Jerome Powell said that the matter is very important for fiscal stimulus.
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