Today, February 14, 2024, saw a decline in the price of gold and silver on the MCX
On Wednesday, February 14, 2024, the prices of silver and gold on the Multi Commodity Exchange (MCX) decreased.
On the MCX, gold futures maturing on April 5, 2024, were trading at Rs 61,449 per 10 kilos after slightly declining by Rs 55 or 0.09 percent. At Rs 61,504, the previous closure was noted.
Silver futures, which mature on March 5, 2024, saw a decrease of Rs 300, or 0.43 percent, and were trading on the MCX at Rs 69,339 per kg, down from the previous close of Rs 69,639.
PRICES FOR GOLD AND SILVER IN MAJOR CITIES
CITY GOLD (22 carats per 10 grams) Silver (each kilogram)
NEW DELHI: Rs 57,740/Rs 75,400
MUMBAI: Rs. 75,400 – 57,590
KOLKATA: 57,590 / 75,400 Rs.
CHENNAI: 58,090 76,900 rupees
The value of the rupee in relation to the dollar is one of the many variables that affects the price of gold and silver in India. The trends in the price of precious metals are mostly determined by global demand.
International Market: Gold and Silver Rates
A stronger-than-expected U.S. inflation data dampened expectations of an early interest rate decrease from the Federal Reserve, causing gold prices to drop below the crucial $2,000 per ounce threshold and to a two-month low on Tuesday, according to news agency Reuters.
As per the most recent metal report, US gold futures dropped 1.3% to $2007.2, while actual gold dropped 1.3% to $1,993.29 per ounce.
In comparison to other precious metals, spot silver dropped 2.8% to $22.05 an ounce.
