Precious metals showed mixed trends in the Indian markets today. Gold is trading on the higher side of the Multi Commodity Exchange (MCX) while silver prices have recorded a dip on Thursday, January 18.
Gold futures, maturing on February 5, 2024, stood at Rs 61,589 per 10 grams, after recording a marginal hike of Rs 35 or 0.06 per cent. The previous close was recorded at Rs 61,505.
Meanwhile, silver futures, due on March 5, 2024, witnessed a downfall of Rs 44 or 0.06 per cent and were retailing at Rs 71,533 per kg on the MCX against the previous close of Rs 71,456.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 57,550 | Rs 75,500 |
| MUMBAI | Rs 57,400 | Rs 75,500 |
| KOLKATA | Rs 57,400 | Rs 75,500 |
| CHENNAI | Rs 57,800 | Rs 77,000 |
The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices hovered near five-week lows on Thursday, as hawkish remarks from Federal Reserve officials and robust data dampened investors’ expectation for deeper and early interest rate cuts in US this year, news agency Reuters reported.
According to the latest metal report, spot gold edged 0.1 per cent higher to $2,008.59 per ounce by 0347 GMT, a day after it fell to $2,001.72- its lowest since December 13.
US gold futures rose 0.2 per cent to $2,010.70.
Spot silver rose 0.4 per cent to $22.61 per ounce, among other precious metals.