Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Thursday, August 29, 2024.
Gold futures, maturing on October 4, 2024, stood at Rs 71,970 per 10 grams on the MCX, after recording a jump of Rs 227 or 0.32 per cent. The previous close was recorded at Rs 71,743.
Meanwhile, silver futures, maturing on September 5, 2024, witnessed a marginal hike of Rs 513 or 0.61 per cent and were retailing at Rs 84,490 per kg on the MCX against the previous close of Rs 83,997.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,731 | Rs 88,400 |
| MUMBAI | Rs 6,716 | Rs 88,400 |
| KOLKATA | Rs 6,716 | Rs 88,400 |
| CHENNAI | Rs 6,716 | Rs 93,400 |
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.