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Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Wednesday, December 6, 2023.
Gold futures, maturing on February 5, 2024, stood at Rs 62,310 per 10 grams on the MCX, after recording a marginal hike of Rs 125 or 0.20 per cent.
The previous close was recorded at Rs 62,311.
Meanwhile, silver futures, maturing on March 5, 2024, witnessed a hike of Rs 216 or 0.29 per cent and were retailing at Rs 75,495 per kg on the MCX against the previous close of Rs 75,595.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 57,600 | Rs 78,200 |
| MUMBAI | Rs 57,450 | Rs 78,200 |
| KOLKATA | Rs 57,450 | Rs 78,200 |
| CHENNAI | Rs 58,150 | Rs 81,000 |
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 edged higher on Wednesday as the dollar eased and weaker-than-expected U.S. jobs data cemented expectations that the Federal Reserve’s policy tightening cycle has come to an end., news agency Reuters reported.
According to the latest metal report, spot gold rose 0.2% at $2,023.40 per ounce by 0538 GMT, while, U.S. gold futures rose 0.2 at $2,041.20
Among other precious metals, spot silver rose 0.6 to $24.27 per ounce
