In today’s trading session on the Multi Commodity Exchange (MCX), gold has seen a notable increase while silver prices have taken a dip. As of Wednesday, March 13, the latest figures reveal a mixed trend in the Indian precious metals market.
Gold futures, scheduled to mature on April 5, 2024, have reached Rs 65,486 per 10 grams, marking a marginal hike of Rs 5 or 0.01 percent from the previous close of Rs 65,481. Meanwhile, silver futures, set to mature on May 3, 2024, have experienced a decrease of Rs 100 or 0.14 percent, currently retailing at Rs 73,750 per kg on the MCX, as opposed to the previous close of Rs 73,850.
Gold and Silver Prices in Major Cities:
| City | Gold (per 10 grams, 22 carats) | Silver (per kg) |
|---|---|---|
| New Delhi | Rs 60,880 | Rs 76,200 |
| Mumbai | Rs 50,730 | Rs 76,200 |
| Kolkata | Rs 60,730 | Rs 76,200 |
| Chennai | Rs 61,480 | Rs 79,600 |
Prices of gold vary across different regions in the country due to factors such as excise duty, making charges, and state taxes.
Gold and Silver Prices in International Market:
On Tuesday, gold prices faced downward pressure, dropping over 1 percent following a robust U.S. inflation report which dimmed prospects of the Federal Reserve reducing interest rates soon, as reported by Reuters.
The latest metal report indicates that spot gold fell by 1.4 percent to $2,153.05 per ounce by 1908 GMT, while U.S. gold futures saw a 1 percent decrease to $2,166.1.
In addition to gold, spot silver also experienced a decline, falling by 1.5 percent to $24.08 per ounce.
Investors and market analysts continue to monitor these fluctuations closely, assessing their implications for the broader economic landscape.
For real-time updates and comprehensive market analysis, stay tuned.