Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Tuesday, October 29, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 78,840 per 10 grams on the MCX, after recording a jump of Rs 274 or 0.35 per cent. The previous close was recorded at Rs 78,566.
Meanwhile, silver futures, maturing on December 5, 2024, witnessed a marginal hike of Rs 426 or 0.44 per cent and were retailing at Rs 97,850 per kg on the MCX against the previous close of Rs 97,424.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 7,390 | Rs 99,000 |
| MUMBAI | Rs 7,375 | Rs 99,000 |
| KOLKATA | Rs 7,375 | Rs 99,000 |
| CHENNAI | Rs 7,375 | Rs 1,08,900 |
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 lingered near record highs on Tuesday, supported by uncertainty surrounding the upcoming U.S. presidential election, while investors awaited key economic data for clues on the Federal Reserve’s interest rate trajectory, news agency Reuters reported.
According to the latest metal report, spot gold gained 0.5 per cent at $2,755.42 per ounce by 0266 GMT, while, U.S. gold futures rose 0.4 per cent to $2,768.10.
Among other precious metals, spot silver rose 1.2 per cent to $34.08 per ounce.