Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Friday, April 5, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 69,359 per 10 grams on the MCX, after recording a marginal dip of Rs 348 or 0.50 per cent. The previous close was recorded at Rs 69,707.
Similarly, silver futures, maturing on May 3, 2024, witnessed a downfall of Rs 1164 or 1.46 per cent and were retailing at Rs 78,900 per kg on the MCX against the previous close of Rs 79,984.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 64,760 | Rs 82,100 |
| MUMBAI | Rs 64,610 | Rs 82,100 |
| KOLKATA | Rs 64,610 | Rs 82,100 |
| CHENNAI | Rs 65,460 | Rs 85,400 |
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 took a breather on Thursday after hitting an all-time high earlier in the session on expectations for lower U.S. interest rates this year, as investors await more clarity on the timing of the cuts, news agency Reuters reported.
According to the latest metal report, spot gold stood at $2,300.49 per ounce by 1850 GMT, while, U.S. gold futures fell 0.2 per cent at $2,308.5 per ounce. .
Among other precious metals, spot silver was flat at $27.22 per ounce.