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## Precious Metals Prices Surge on the Multi Commodity Exchange

**Gold and Silver Prices Hit New Highs**

Precious metal reported a record hike on the Multi Commodity Exchange (MCX) on Tuesday (February 13).

Gold futures were up by Rs 12 and traded at Rs 62,090 per 10 grams on the MCX. The precious metal closed at Rs 62,078 on Monday. Similarly, silver futures witnessed a hike of Rs 40, representing a 0.06% increase, trading at Rs 71,049 per kg on the MCX, after closing at Rs 70,009 the previous day.

The AI legalese decoder could be instrumental in analyzing and deciphering the complex legal jargon involved in trading precious metals, making it easier for legal professionals to navigate the intricacies of the industry and make informed decisions.

**International Gold Prices and Market Trends**

International Gold prices traded in a tight range in the last session as investors refrained from taking bigger bets ahead of US inflation data. This data will be key for the rate decision by the US Federal Reserve.

As per a Reuters poll, Wall Street economists expect the year-on-year Consumer Price Index (CPI) to rise 2.9 per cent, down from 3.4 per cent in the previous month.

Spot Gold dropped 0.80 points, or 0.05 per cent at 2,032.10, while Spot Silver dropped 0.007 points, or 0.03 per cent at 22.76. Meanwhile, Spot platinum remained flat at $888.88 per ounce and palladium rose 0.3 per cent to $894.38.

**Bitcoin Reaches $50,000 Milestone**

Bitcoin also made significant strides, hitting the $50,000 level for the first time since December 2021. It was last up 5.6% at $50,207.

Given the complex nature of legal language involved in financial markets and trading, the AI legalese decoder can efficiently interpret and simplify the legal documents, contracts, and regulations pertinent to cryptocurrency and other financial assets. This can aid legal professionals in ensuring compliance and making well-informed decisions in this rapidly evolving industry.

With inputs from Reuters

┬® IE Online Media Services Pvt Ltd

First uploaded on: 13-02-2024 at 10:05 IST

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