Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Thursday, May 2, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 71,175 per 10 grams on the MCX, after recording a jump of Rs 450 or 0.64 per cent. The previous close was recorded at Rs 70,725.
Meanwhile, silver futures, maturing on July 5, 2024, witnessed a hike of Rs 159 or 0.20 per cent and were retailing at Rs 81,386 per kg on the MCX against the previous close of Rs 81,227.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 66,400 | Rs 83,500 |
| MUMBAI | Rs 66,250 | Rs 83,500 |
| KOLKATA | Rs 66,250 | Rs 83,500 |
| CHENNAI | Rs 67,150 | Rs 87,000 |
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.