Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Tuesday, March 26, 2024.
Gold futures, maturing on April 5, 2024, stood at Rs 65,919 per 10 grams on the MCX, after recording a marginal dip of Rs 103 or 0.16 per cent. The previous close was recorded at Rs 66,022.
Similarly, silver futures, maturing on May 3, 2024, witnessed a downfall of Rs 140 or 0.19 per cent and were retailing at Rs 74,783 per kg on the MCX against the previous close of Rs 74,923.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 61,390 | Rs 77,900 |
| MUMBAI | Rs 61,240 | Rs 77,900 |
| KOLKATA | Rs 61,240 | Rs 77,900 |
| CHENNAI | Rs 62,060 | Rs 80,900 |
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 were stuck in a tight range on Tuesday as investor focus turns to U.S. inflation data due later this week, which could shed more light on the timing of the Federal Reserve’s first interest rate cut this year, news agency Reuters reported.
According to the latest metal report, spot gold stood at $2,170.59 per ounce by 0310 GMT, while, U.S. gold futures fell 0.2 per cent at $2,171.20 per ounce. .
Among other precious metals, spot silver fell 0.2 per cent to $24.63 per ounce.