Both gold and silver were trading on the lower side of the Multi Commodity Exchange (MCX) on Monday. Witnessing a marginal drop of Rs 38 or 0.05 per cent, gold futures maturing on February 4, 2022, were retailing at Rs 48,050 per 10 grams on the MCX.

Meanwhile, the rate of silver futures, maturing on March 4, 2022, stood at Rs 62,465 per kg, recording a drop of 0.36 per cent or Rs 226.

Notably, the prices of gold and silver stood at Rs 47,974 per 10 grams and Rs 62,400 per kg respectively when the market closed on Friday, December 31.

Gold and silver prices on the international market:

According to Reuters, gold prices held steady on Monday as higher US Treasury yields offset safe-haven buying sentiment due to an Omicron-driven surge in Covid-19 infections globally.

Spot gold remained mostly unchanged at $1,830.09 per ounce by 0058 GMT, after hitting a more than one-month high of $1,831.49 during the session. Meanwhile, US gold futures were up by 0.1 per cent to $1,830.30.

Spot silver shed 0.2 per cent to $23.23 an ounce, platinum gained 0.8 per cent to $970.27 and palladium rose 0.6 per cent to $1,903.39.

Gold and silver prices in major Indian cities: