Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Wednesday, April 3, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 69,379 per 10 grams on the MCX, after recording a jump of Rs 451 or 0.65 per cent. The previous close was recorded at Rs 68,928.
Meanwhile, silver futures, maturing on May 3, 2024, witnessed a hike of Rs 926 or 1.20 per cent and were retailing at Rs 77,962 per kg on the MCX against the previous close of Rs 77,036.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 63,490 | Rs 79,100 |
| MUMBAI | Rs 63,340 | Rs 79,100 |
| KOLKATA | Rs 63,340 | Rs 79,100 |
| CHENNAI | Rs 64,290 | Rs 82,100 |
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 scaled yet another record peak on Tuesday as traders snapped up the safe haven asset amid growing Middle East tensions, largely ignoring a stronger dollar and tempered bets for U.S. rate cuts, news agency Reuters reported.
According to the latest metal report, spot gold was up by 0.8 per cent at $2,268.44 per ounce by 1807 GMT, while, U.S. gold futures rose 1.1 per cent at $2,181.8 per ounce.
Among other precious metals, spot silver rose 3.2 per cent to $25.89 per ounce.