Today's gold and silver prices: Precious metals saw a drop on the MCX | Get the latest rates here

On Thursday, January 27, 2022, both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX).

On the MCX, gold futures maturing on February 4, 2022 are retailing at Rs 48,550 per 10 grams, a decline of Rs 569 or 1.16 percent.

Meanwhile, the price of silver futures expiring on March 4, 2022 was Rs 63,500 a kg, down 1.24 percent or Rs 792.

Notably, when the market closed on Tuesday, January 25, gold and silver were priced at Rs 48,851 per 10 grams and Rs 64,071 per kg, respectively.

Prices of gold and silver on the international market:

According to Reuters, gold was flat on Thursday, maintaining near a one-week low set the previous session, after the Federal Reserve agreed on rate hikes in March, which pushed up US Treasury yields and the dollar.

According to the most recent metal report, spot gold remained constant at $1,817.29 per ounce, close to a one-week low of $1,814.51. Meanwhile, U.S. gold futures fell 0.7 percent to $1,817.20.

Notably, while gold is regarded as an inflationary hedge, it is particularly susceptible to rising US interest rates, raising the opportunity cost of keeping non-interest bearing bullion.

Furthermore, spot silver fell 0.4 percent to $23.40 per ounce.

Prices of gold and silver in major Indian cities: