After witnessing mixed trends in the Indian market, both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Wednesday, February 16, 2024.
Gold futures, maturing on April 5, 2024, stood at Rs 62,237 per 10 grams on the MCX, after recording a marginal hike of Rs 70 or 0.11 per cent. The previous close was recorded at Rs 62,167.
Meanwhile, silver futures, maturing on March 5, 2024, witnessed a hike of Rs 140 or 0.20 per cent and were retailing at Rs 71,395 per kg on the MCX against the previous close of Rs 71,255.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 57,750 | Rs 75,700 |
| MUMBAI | Rs 57,600 | Rs 75,700 |
| KOLKATA | Rs 57,600 | Rs 75,700 |
| CHENNAI | Rs 58,100 | Rs 77,200 |
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.