Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Thursday, April 4, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 69,828 per 10 grams on the MCX, after recording a jump of Rs 29 or 0.04 per cent. The previous close was recorded at Rs 69,799.
Meanwhile, silver futures, maturing on May 3, 2024, witnessed a hike of Rs 358 or 0.45 per cent and were retailing at Rs 79,369 per kg on the MCX against the previous close of Rs 79,011.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 64,260 | Rs 81,100 |
| MUMBAI | Rs 64,110 | Rs 81,100 |
| KOLKATA | Rs 64,110 | Rs 81,100 |
| CHENNAI | Rs 65,010 | Rs 84,100 |
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 prices raced to a record high yet again on Wednesday, after Federal Reserve Chair Jerome Powell reiterated that recent readings on job gains and higher-than-expected inflation do not materially change the overall picture of economic policy this year,.news agency Reuters reported.
According to the latest metal report, spot gold was up by 0.5 per cent at $2,292.31 per ounce by 1743 GMT, while, U.S. gold futures rose 1.5 per cent at $2,315 per ounce.
Among other precious metals, spot silver rose 3.1 per cent to $26.92 per ounce.