Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Friday, March 5, 2024.
Gold futures, maturing on April 5, 2024, stood at Rs 65,676 per 10 grams on the MCX, after recording a marginal hike of Rs 81 or 0.12 per cent. The previous close was recorded at Rs 65,595.
Meanwhile, silver futures, maturing on May 3, 2024, witnessed a hike of Rs 264 or 0.35 per cent and were retailing at Rs 75,490 per kg on the MCX against the previous close of Rs 75,226.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 60,760 | Rs 77,100 |
| MUMBAI | Rs 60,610 | Rs 77,100 |
| KOLKATA | Rs 60,610 | Rs 77,100 |
| CHENNAI | Rs 61,360 | Rs 80,100 |
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 ON INTERNATIONAL MARKET
Gold slid on Thursday after a larger-than-expected rise in February’s U.S. producer price index (PPI) cooled expectations of early rate cuts by the Federal Reserve, boosting Treasury yields and the dollar, news agency Reuters reported.
According to the latest metal report, spot gold was down 0.6 per cent at $2,136.39 per ounce. US gold futures fell 0.6 per cent at $2,167.5.
Among other precious metals, silver fell 0.8 per cent to $24.83 per ounce.