Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Tuesday, March 19, 2024.
Gold futures, maturing on April 5, 2024, stood at Rs 65,657 per 10 grams on the MCX, after recording a marginal hike of Rs 49 or 0.07 per cent. The previous close was recorded at Rs 65,608.
Meanwhile, silver futures, maturing on May 3, 2024, witnessed a hike of Rs 104 or 0.14 per cent and were retailing at Rs 75,600 per kg on the MCX against the previous close of Rs 75,496.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 60,950 | Rs 77,300 |
| MUMBAI | Rs 60,800 | Rs 77,300 |
| KOLKATA | Rs 60,800 | Rs 77,300 |
| CHENNAI | Rs 61,350 | Rs 80,300 |
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 ON INTERNATIONAL MARKET
Gold held steady on Tuesday as investors stayed on the sidelines ahead of the U.S. Federal Reserve policy meeting this week, which could offer further clues on the timing of likely interest rate cuts this year, news agency Reuters reported.
According to the latest metal report, spot gold stood at $2,160.79 per ounce. US gold futures were flat at $2,164.10.
Among other precious metals, silver gained 0.3 per cent to $25.10 per ounce.