Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Wednesday, May 22, 2024.
Gold futures, maturing on June 5, 2024, stood at Rs 73,945 per 10 grams on the MCX, after recording a marginal dip of Rs 76 or 0.10 per cent. The previous close was recorded at Rs 74,021.
Similarly, silver futures, maturing on July 5, 2024, witnessed a downfall of Rs 175 or 0.18 per cent and were retailing at Rs 94,550 per kg on the MCX against the previous close of Rs 94,725.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,844 | Rs 94,500 |
| MUMBAI | Rs 6,859 | Rs 94,500 |
| KOLKATA | Rs 6,829 | Rs 94,500 |
| CHENNAI | Rs 6,859 | Rs 98,900 |
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.