The price of precious metals -Gold and Silver- has surged in the commodity market. On the Multi Commodity Exchange (MCX), February gold futures were up 0.74% to Rs. 49,410 per 10 gram. Silver futures were up 0.57% to Rs.66,279 per kg.
In the international market, the price of spot gold rose 0.1% to $1,856.86 per ounce. Among other precious metals, silver was steady at $25.57 an ounce while platinum rose 0.3% to $1,078.80.
In the Indian market, the price of spot gold surged for the second consecutive day. Gold prices gained Rs 297 to Rs 48,946 per 10 gram. Silver also gained Rs 1,404 to Rs 65,380 per kg.