Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Wednesday, January 17, 2024.
Gold futures, maturing on February 5, 2024, stood at Rs 61,974 per 10 grams on the MCX, after recording a marginal dip of Rs 41 or 0.07 per cent. The previous close was recorded at Rs 62,015.
Meanwhile, silver futures, maturing on March 5, 2024, witnessed a dip of Rs 224 or 0.31 per cent and were retailing at Rs 71,869 per kg on the MCX against the previous close of Rs 72,093.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 58,200 | Rs 76,500 |
| MUMBAI | Rs 58,050 | Rs 76,500 |
| KOLKATA | Rs 58,050 | Rs 76,500 |
| CHENNAI | Rs 58,500 | Rs 78,000 |
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.