Gold price today: Gold rate jumped by 1% on the MCX on Wednesday, February 18, due to short covering after a two-day fall. MCX gold April futures jumped by nearly ₹2,000, or 1.2%, to ₹1,53,303 per 10 grams, while MCX silver March futures jumped by over ₹4,100, or nearly 2%, to ₹2,32,930 per kg.
International gold prices also climbed on buying on dips. However, an uptick in the US dollar and progress in US-Iran talks capped gains. Thin trading on account of the Lunar New Year holidays in Chinese, Korean and several other Asian markets also limited gains.
The dollar index climbed by 0.10% to 97.25. A stronger greenback tends to weigh on gold prices as it makes greenback-backed yellow metal expensive for overseas buyers.
(This is a developing story. Please check back for fresh updates.)
