Gold prices are high on the Multi Commodity Exchange (MCX), while silver rates declined on January 31.

 Gold futures contract, expiring on February 5, 2024, has a value of Rs 62,759 per 10 grams, a slight increase of Rs 127.

Silver futures, maturing on March 5, 2024, saw a decline of Rs 123, or 0.17%, selling at Rs 72,219 per kg.

Gold and silver prices in India are determined by the value of the rupee as well as demand from across the world.

Gold prices in India could fall further in near term. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities

An increase in spot demand acts as a worldwide indication for gold futures, and it occurs when there is an increase in spot demand.

Gold and Silver rate today (January 10, 2024): Precious metals subdued; yellow metal above Rs 62,200