Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Tuesday, August 13, 2024.
Gold futures, maturing on October 4, 2024, stood at Rs 70,700 per 10 grams on the MCX, after recording a dip of Rs 38 or 0.05 per cent. The previous close was recorded at Rs 70,738.
Similarly, silver futures, maturing on September 5, 2024, witnessed a dip of Rs 374 or 0.46 per cent and were retailing at Rs 81,250 per kg on the MCX against the previous close of Rs 81,624.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,486 | Rs 82,400 |
| MUMBAI | Rs 6,471 | Rs 82,400 |
| KOLKATA | Rs 6,471 | Rs 82,400 |
| CHENNAI | Rs 6,471 | Rs 87,400 |
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 eased on Tuesday as profit-taking kicked in after bullion hit a more than one-week high, while market players awaited key U.S. inflation data that could provide further insight into the Federal Reserve’s next policy decision, news agency Reuters reported.
According to the latest metal report, spot gold fell 0.4 per cent to $2,462.19 per ounce by 0259 GMT, while, U.S. gold futures stood at $2,502.40.
Among other precious metals, spot rose 1.2 per cent to $27.67 per ounce.