Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Friday, October 10, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 75,841 per 10 grams on the MCX, after recording a jump of Rs 544 or 0.72 per cent. The previous close was recorded at Rs 75,297.
Meanwhile, silver futures, maturing on December 5, 2024, witnessed a marginal hike of Rs 671 or 0.74 per cent and were retailing at Rs 90,975 per kg on the MCX against the previous close of Rs 90,304.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 7,039 | Rs 93,900 |
| MUMBAI | Rs 7,024 | Rs 93,900 |
| KOLKATA | Rs 7,024 | Rs 99,800 |
| CHENNAI | Rs 7,024 | Rs 99,900 |
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 climbed on Friday after recent data supported bets for a Federal Reserve interest rate cut next month, while market participants awaited the U.S. Producer Price Index (PPI) report for further direction, news agency Reuters reported.
According to the latest metal report, spot gold gained 0.5 per cent at $2,641.70 per ounce by 0245 GMT, while, U.S. gold futures rose 0.7 per cent to $2,658.90.
Among other precious metals, spot silver rose 0.2 per cent to $31.25 per ounce.