Gold prices in India hit new highs today tracking steady global rates. On MCX, February futures rose 0.35% to ₹57,149 per 10 gram, surpassing previous high of ₹57,125. Silver futures also edged higher to ₹68,583 per kg. In international markets, bullion was steady at $1,926.65 per ounce. Traders remained cautious ahead of US Federal Reserve’s rate decision on February 1. It is widely expected that US central bank will downshift rate hike to 25 basis points (bps) from 50 bps announced in December.
Article Source:Money Control