Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Friday, May 31, 2024.
Gold futures, maturing on August 5, 2024, stood at Rs 72,115 per 10 grams on the MCX, after recording a marginal dip of Rs 61 or 0.08 per cent. The previous close was recorded at Rs 72,216.
Similarly, silver futures, maturing on July 5, 2024, witnessed a downfall of Rs 1,003 or 1.07 per cent and were retailing at Rs 93,140 per kg on the MCX against the previous close of Rs 94,123.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,684 | Rs 96,400 |
| MUMBAI | Rs 6,669 | Rs 96,400 |
| KOLKATA | Rs 6,669 | Rs 96,400 |
| CHENNAI | Rs 6,729 | Rs 1,00,900 |
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.