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Taking cues from the international prices, MCX April gold futures were trading flat at Rs 62,566 per 10 grams while the May Silver contracts were trading at Rs 71,382 per kg, higher by Rs 103 or 0.14%.
The cues from international markets were positive around this time. On the Comex, gold futures were trading at $2,033.50 per troy ounce, up by $9.40 or 0.46%, while Silver futures were hovering at $23.185 per troy ounce, lower by $0.290 or 1.240%.
Crude oil prices climbed about 3 per cent on Wednesday to near $132 per barrel, after rising around 4 per cent on Tuesday.
Oil prices soared above $130, their highest since 2008 on Monday, after a US and European ban on Russian oil imports risk and delays in Iranian talks.
The surge in crude oil prices to above $130 is set to significantly increase India's import bill on crude oil in the coming weeks.