Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Monday, August 19, 2024.
Gold futures, maturing on October 4, 2024, stood at Rs 71,590 per 10 grams on the MCX, after recording a jump of Rs 215 or 0.30 per cent. The previous close was recorded at Rs 71,375.
Meanwhile, silver futures, maturing on September 5, 2024, witnessed a marginal hike of Rs 609 or 0.73 per cent and were retailing at Rs 83,634 per kg on the MCX against the previous close of Rs 83,025.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,685 | Rs 85,900 |
| MUMBAI | Rs 6,670 | Rs 85,900 |
| KOLKATA | Rs 6,670 | Rs 85,900 |
| CHENNAI | Rs 6,670 | Rs 91,900 |
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 eased on Monday and hovered around key $2,500 level, as traders locked in profits following bullion’s climb to an all-time peak in the previous session on expectations of a U.S. interest rate cut next month, news agency Reuters reported.
According to the latest metal report, spot gold dipped 0.2 per cent to $2,502.78 per ounce by 0352 GMT, while, U.S. gold futures gained 0.2 per cent to $2,541.80.
Among other precious metals, spot silver rose 0.2 per cent to $29.08 per ounce.