Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Friday, October 25, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 78,128 per 10 grams on the MCX, after recording a dip of Rs 199 or 0.25 per cent. The previous close was recorded at Rs 78,327.
Similarly, silver futures, maturing on December 5, 2024, witnessed a dip of Rs 452 or 0.47 per cent and were retailing at Rs 96,580 per kg on the MCX against the previous close of Rs 97,032.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 7,299 | Rs 1,01,900 |
| MUMBAI | Rs 7,284 | Rs 1,01,900 |
| KOLKATA | Rs 7,284 | Rs 1,01,900 |
| CHENNAI | Rs 7,284 | Rs 1,09,900 |
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.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices eased on Friday but was on track for a weekly gain, as investors sought the safe-haven metal amid rising geopolitical tensions, while palladium was poised for its strongest week in more than a month, news agency Reuters reported.
According to the latest metal report, spot gold fell 0.2 per cent to $2,730.09 per ounce by 0155 GMT, while, U.S. gold futures fell 0.2 per cent to $2,742.80.
Among other precious metals, spot silver fell 0.3 per cent to $33.62 per ounce.