Gold Rates & Silver Rates Today Live: MCX Silver Up 3%, Spot Gold Nears 2-Week High; 24K, 22K, 18K Gold Prices

Gold rates and silver rates in India rallied significantly on February 11. MCX gold gained nearly 1% to hit above Rs 1,58,400 zone. Meanwhile, MCX silver outperformed with nearly 3% upside and even reclaimed over Rs 2.60 lakh mark.

This is following positive global cues. Spot gold firmed above $5,040 per ounce, holding around nearly 2-week high. While spot silver surged near to $83 per ounce, and recovered significant losses from previous session's selloffs.

Investors turned buyers as expectations of a more accommodative stance from US Federal Reserve heightened.

The move followed soft US data, as December retail sales fell short of forecasts, signaling a slowdown in consumer spending and reinforcing concerns about slowing growth. Markets have since priced in a higher probability of three Fed rate cuts this year, up from two just a week ago. Investors are now watching upcoming US jobs and inflation reports for further clues on the economy's trajectory and potential Fed policy moves. Adding to the support, central bank demand remains strong, with the PBoC extending its gold purchases for the 15th consecutive month in January. Geopolitical risks also continued to lift prices, as markets monitored lingering tensions between the US and Iran, despite positive initial talks last week, as per Trading Economics.

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