Mumbai, Jan 13 || Gold and silver prices eased on Tuesday amid profit booking, after they surged to record high levels over worries of the US Justice Department's action against the Federal Reserve Chair.
MCX gold February futures eased 0.44 per cent to Rs 1,41,400 per 10 grams around 1.15 pm, while MCX silver March futures traded flat with a negative bias down 0.01 per cent at Rs 2,68,926 per kg.
The price of 10 grams of 24-carat gold was at Rs 1,40,482 down from Rs 1,40,499 of previous day's close, according to data published by the India Bullion and Jewellers Association (IBJA).
Gold prices had breached $4,600 per ounce for the first time ever, followed by investors booking profits.
The rally was supported by US President Trump announcing a 25 per cent tariff on nations trading with Iran and warned of potential military action as protests intensified.
Markets remain focused on the criminal probe into Fed Chair Jerome Powell’s testimony, which he termed politically motivated pressure to force rate cuts, said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.