Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Tuesday, May 7, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 71,305 per 10 grams on the MCX, after recording a marginal dip of Rs 64 or 0.09 per cent. The previous close was recorded at Rs 71,369.
Similarly, silver futures, maturing on July 5, 2024, witnessed a downfall of Rs 78 or 0.09 per cent and were retailing at Rs 82,877 per kg on the MCX against the previous close of Rs 82,955.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 66,500 | Rs 85,000 |
| MUMBAI | Rs 66,350 | Rs 85,000 |
| KOLKATA | Rs 66,350 | Rs 85,000 |
| CHENNAI | Rs 66,400 | Rs 88,500 |
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.