However, investors are cautious against taking any major move, as the direction still seems to be unpredictable due to uncertainties over the global economies and volatility in currencies.

MCX spot gold was trading at Rs 27,560 per 10 grams, while spot silver at Rs 50,796 per kg.

And, the metal for February contract delivery opened at Rs 27,737 per 10 grams. At 1.51 pm IST gold was seen trading at Rs 27,592.00.

On domestic front, 24 carat gold was at Rs 27,780 per 10 grams and 22 carat gold was at Rs 25,970 per 10 grams.

While, Silver for delivery in March at the Multi Commodity Exchange, opened at Rs 51,940 per kg and was trading in the range of Rs 51,693 – Rs 51,700 per kg.

US spot gold was seen hovering at $1,619.50 an ounce.

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