Gold prices today drop but silver rates jump
Gold prices have been range-bound over the past two weeks
Analysts say that gold may see choppy movement in near term unless there are fresh triggers
Gold prices in India continued to trade in a narrow range as investors assess the impact of the pandemic and the pace of vaccine distribution. They are also keeping a watch on progress of an enhanced stimulus package in the US Senate. On MCX, February futures were down ₹31 to ₹50,008 per 10 gram while silver futures jumped 1% to ₹68,847. In the previous session, gold had ended flat, settling ₹22 higher per 10 gram while silver had declined ₹800 per kg. Gold futures on MCX have remained in the ₹50,500 to ₹50,000 for the past two weeks.
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