Gold prices today, January 16: Check rates in Mumbai, Delhi and other cities

Gold prices edged lower while silver registered modest gains in early trade on Friday according to market dataThe price of 24carat gold declined by Rs 10 to Rs 143610 per 10 grams Similarly 22carat gold slipped by Rs 10 with 10 grams trading at Rs 131640Across major cities 24carat gold was priced at Rs 143610 per 10 grams in Mumbai and Kolkata while Chennai recorded a higher rate of Rs 144990 In Delhi the price stood at Rs 143760 per 10 gramsFor 22carat gold rates in Mumbai Kolkata Bengaluru and Hyderabad were uniform at Rs 131640 per 10 grams Chennai saw the metal trading at Rs 132910 while Delhi recorded a price of Rs 131790 per 10 gramsSilver prices meanwhile moved higher The price of one kilogram of silver rose by Rs 100 to Rs 295100 in Delhi Kolkata and Mumbai In Chennai silver was trading at a higher level of Rs 310100 per kilogramGold silver prices ease moderately as US dollar gainsGold and silver prices fell on MCX and global markets on Friday as the US dollar strengthened following weaker than expected weekly jobless claimsFurther a softer tone from US President Donald Trump on Iran reduced safehaven demand for the precious metalsMCX gold February futures dipped 026 per cent to Rs 142743 per 10 grams in morning trade while MCX silver March futures eased 094 per cent to Rs 288824 per kgSpot gold eased about 029 per cent to 460243 an ounce though it remained around 2 per cent higher for the week Spot silver fell roughly 08 per cent to 9169 an ounce after earlier touching an alltime high of about 9357ndash9370 during the sessionAnalysts said the pullback came as the dollar index climbed toward 9949 its strongest level since early DecemberMarket watchers said that rising geopolitical risks stemming from unrest in Iran and tensions involving Venezuela and Greenland continue to provide demand for precious metalsGold and silver prices are expected to remain volatile this week amid volatility in the dollar index ahead of the US Supreme Court decision on tariffs they addedThe Augmont Bullion report said that silver retreated sharply from its record high of USD 93 after Trump refrained from announcing new tariffs on critical mineral imports Instead he said the US keeps negotiations open with foreign countries to secure supplies and swiftly cut supplychain risks while considering import curbs only if talks fail to yield timely resultsThe report predicted that traders can witness some profitbooking and retracement before prices move higher againInvestors are looking for cues from the US Federal Reserve for a potential easing amid global uncertainty Softerthanexpected November producer inflation both headline and core alongside mild December consumer inflation data has increased hopes of the US Fed implementing multiple rate cuts later this yearWith inputs from Agencies