Gold Price Today (February 6): Yellow metal rebounds after hitting four-week low - Check rate in Delhi, Mumbai and other cities

Gold Price Today February 6: The precious metal hit a more than four-week low in the morning, as the U.S. dollar firmed after stronger-than-expected jobs data fanned concerns that the Federal Reserve might further increase interest rates

Spot gold was up 0.5% at $1,875.20 per ounce as of 0748 GMT, after hitting its lowest level since January 6. Whereas Spot silver rose 0.7% to $22.50 per ounce. Pic: Reuters

Gold Price Today February 6: The Gold price has regained some ground on Monday, February 6 after hitting a more than four-week low in the early trade. However, a firmer dollar and concerns that the U.S. Federal Reserve might keep hiking interest rates kept bullion below the $1,900-an-ounce level, according to Reuters.

The precious metal hit a more than four-week low in the morning, as the U.S. dollar firmed after stronger-than-expected jobs data fanned concerns that the Federal Reserve might further increase interest rates

Spot gold was up 0.5% at $1,875.20 per ounce as of 0748 GMT, after hitting its lowest level since January 6. Whereas Spot silver rose 0.7% to $22.50 per ounce.

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U.S. gold futures rose 0.6% to $1,887.60.

“Markets were initially looking for the first (rate) cut to come in Q3 (post-FOMC but prior to non-farm payrolls release), but expectations for the first cut have now been pushed back to November-December,” said OCBC FX strategist Christopher Wong.

Gold Silver Price On MCX

On Multi Commodity Exchange of India Limited (MCX), Gold April Futures were up by 0.80 percent to Rs 57,035 per 10 grams in the afternoon trade of February 6. Likewise, Silver March futures on MCX were up by 0.35 percent to Rs 67,812 per kg.

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Gold Price City-wise In India as of February 6, 2022, for 24k:

Chennai- Rs 58,530

Mumbai- Rs 57,440

Delhi- Rs 57,590

Kolkata- Rs 57,440

Bangalore- Rs 57,490

Hyderabad- Rs 57,440

Kerala- Rs 57,440

Pune- Rs 57,440

Vadodara- Rs 57,490

Ahmedabad- Rs 57,490

Lucknow- Rs 57,590

Vijayawada- Rs 57,440

Patna- Rs 57,490

Nagpur- Rs 57,440

Chandigarh- Rs 57,590

Surat- Rs 57,490

Bhubaneswar- Rs 57,160

Visakhapatnam- Rs 57,440

Nashik- Rs 57,470

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)

(With Reuters inputs)

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