On December 22, while gold was trading on the lower side of the Multi Commodity Exchange (MCX), silver recorded a marginal hike. Witnessing a dip of Rs 60 or 0.12 per cent, gold futures, maturing on February 04, 2022, are trading at Rs 48,115 per 10 grams on the MCX.

Meanwhile, recording a marginal hike of Rs 7 or 0.01 per cent, silver futures, maturing on March 4, 2022, stand at Rs 61,941 per kg.

Gold and silver prices in international market

As per Reuters, gold traded within a tight range on Wednesday as higher U.S. Treasury yields and improved risk appetite countered concerns about the rapidly spreading Omicron coronavirus variant.

Meanwhile, spot gold was little changed at $1,789.12 per ounce by 0126 GMT. U.S. gold futures also remained unchanged, at $1,789.50.

U.S. Treasury yields were higher on Tuesday as traders focused on optimistic economic conditions and discounted inflation fears at a 20-year bond auction. Higher yields increase the opportunity cost of holding bullion, which pays no interest.

The dollar index edged lower, starting a third successive session under pressure as investors favoured riskier currencies and asset classes.

On the other hand, spot silver was down 0.1 per cent at $22.47 an ounce, platinum shed 0.3 per cent to $931.99 and palladium was up 0.2 per cent at $1,795.17.

Gold and Silver prices in major Indian cities: