Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Monday, October 7, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 76,273 per 10 grams on the MCX, after recording a dip of Rs 34 or 0.04 per cent. The previous close was recorded at Rs 76,307.
Similarly, silver futures, maturing on December 5, 2024, witnessed a dip of Rs 406 or 0.44 per cent and were retailing at Rs 91,284 per kg on the MCX against the previous close of Rs 91,690.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,130 | Rs 97,000 |
| MUMBAI | Rs 7,115 | Rs 96,900 |
| KOLKATA | Rs 7,115 | Rs 97,000 |
| CHENNAI | Rs 7,115 | Rs 1,03,000 |
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 Monday, weighed down by a firmer U.S. dollar, while investors looked out for fresh clues on Federal Reserve interest rate cuts, news agency Reuters reported.
According to the latest metal report, spot gold fell 0.2 per cent to $2,651.99 per ounce by 0252 GMT, while, U.S. gold futures fell 0.3 per cent to $2,669.20.
Among other precious metals, spot silver fell 1.3 per cent to $31.12 per ounce.