Gold prices continue to rise amid firm global market trend

Gold and silver prices continue to rise in India amid firm global market trend. According to the prices given by the Indian Bullion and Jewellers Association, on January 21, the closing rate without GST for gold (purity-999) was Rs 49,659, while for gold with purity-995 is Rs 49,460.

Silver prices also rose to stand at Rs. 67,160 at the end of Thursday.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 77, or 0.16 per cent, at Rs 49,611 per 10 gram in a business turnover of 5485 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded 0.21 per cent higher at USD 1,874.10 per ounce in New York.

The Indian rupee, in the meantime, added another 6 paise to settle at a near five-month high of 72.99 against the US dollar on Thursday, tracking a weaker American currency overseas and sustained foreign fund inflows.

Fuel prices too continue to rise. With prices being raised by a few paise, petrol on Friday cost Rs 85.45 per litre in Delhi, while diesel cost Rs 75.63.

(With inputs from agencies)

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