Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Monday, August 12, 2024.
Gold futures, maturing on October 4, 2024, stood at Rs 69,930 per 10 grams on the MCX, after recording a jump of Rs 35 or 0.05 per cent. The previous close was recorded at Rs 69,895.
Meanwhile, silver futures, maturing on September 5, 2024, witnessed a marginal hike of Rs 187 or 0.23 per cent and were retailing at Rs 80,730 per kg on the MCX against the previous close of Rs 80,543.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,485 | Rs 82,500 |
| MUMBAI | Rs 6,470 | Rs 82,500 |
| KOLKATA | Rs 6,470 | Rs 82,500 |
| CHENNAI | Rs 6,470 | Rs 87,500 |
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 struggled for momentum on Monday as investors looked forward to a key inflation report that could shed more light on the U.S. central bank’s next policy move, news agency Reuters reported.
According to the latest metal report, spot gold eased 0.13 per cent to $2,427.86 per ounce by 0352 GMT, while, U.S. gold futures dipped 0.3 per cent to $2,466.40.
Among other precious metals, spot silver fell 0.3 per cent to $27.36 per ounce.