Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Friday, April 12, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 72,423 per 10 grams on the MCX, after recording a jump of Rs 779 or 1.09 per cent. The previous close was recorded at Rs 71,644.
Meanwhile, silver futures, maturing on May 3, 2024, witnessed a hike of Rs 1020 or 1.23 per cent and were retailing at Rs 83,867 per kg on the MCX against the previous close of Rs 82,847.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 66,360 | Rs 84,900 |
| MUMBAI | Rs 66,210 | Rs 84,900 |
| KOLKATA | Rs 66,210 | Rs 84,900 |
| CHENNAI | Rs 67,260 | Rs 88,400 |
The gold and silver prices in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices scaled to a record high on Friday as geopolitical tensions continued to boost demand for the safe-haven metal, while strong economic data failed to dampen bullion’s allure, news agency Reuters reported.
According to the latest metal report, spot gold was up by 0.6 per cent at $2,386.38 per ounce by 0111 GMT, while, U.S. gold futures rose 1.3 per cent at $2,403.90 per ounce.
Among other precious metals, spot silver rose 0.7 per cent to $28.66 per ounce.