Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Wednesday, May 15, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 72,352 per 10 grams on the MCX, after recording a jump of Rs 55 or 0.08 per cent. The previous close was recorded at Rs 72,297.
Meanwhile, silver futures, maturing on July 5, 2024, witnessed a hike of Rs 36 or 0.04 per cent and were retailing at Rs 85,453 per kg on the MCX against the previous close of Rs 85,417.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 67,300 | Rs 87,600 |
| MUMBAI | Rs 67,150 | Rs 87,600 |
| KOLKATA | Rs 67,150 | Rs 87,600 |
| CHENNAI | Rs 67,250 | Rs 91,000 |
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.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices traded flat on Wednesday as investors looked forward to a critical U.S. inflation print that could offer clues on the Federal Reserve’s interest rate cut trajectory, news agency Reuters reported.
According to the latest metal report, spot gold stood at $2,359.02 per ounce, per ounce by 0314 GMT, while, U.S. gold futures gained 0.2 per cent to $2,364.60.
Among other precious metals, spot silver fell 0.1% to $28.57 per ounce.