Today, March 15, 2024, saw a record increase in the price of gold and silver on the MCX
Both the values of gold and silver ascended on the Multi Commodity Exchange (MCX) on Friday, March 5, 2024.
The futures of gold, due on April 5, 2024, were positioned at Rs 65,676 per 10 grams on the MCX, following a slight elevation of Rs 81 or 0.12 percent. The preceding closure had been noted at Rs 65,595.
In the interim, the futures of silver, due on May 3, 2024, experienced a rise of Rs 264 or 0.35 percent and were trading at Rs 75,490 per kg on the MCX, in contrast to the prior closure of Rs 75,226.
GOLD AND SILVER PRICES IN PROMINENT METROPOLITAN AREAS
CITY GOLD (per 10 grams, 22 carats) SILVER (per kg)
NEW DELHI: Rs 60,760-Rs 77,100
MUMBAI: Rs 60,610-Rs 77,100
KOLKATA: Rs 60,610-Rs 77,100
CHENNAI: Rs 61,360-Rs 80,100
The prices of gold and silver in India are contingent on various factors, encompassing the valuation of the rupee in relation to the dollar. Additionally, global demand exerts significant influence in delineating the observed trends in the valuation of precious metals.
GOLD AND SILVER PRICES IN THE INTERNATIONAL ARENA
Gold experienced a decline on Thursday subsequent to a greater-than-anticipated surge in February’s U.S. producer price index (PPI), which tempered anticipations of premature interest rate reductions by the Federal Reserve, thereby bolstering Treasury yields and the dollar, as reported by the news agency Reuters.
According to the latest metal report, spot gold depreciated by 0.6 percent, reaching $2,136.39 per ounce. U.S. gold futures witnessed a decline of 0.6 percent, settling at $2,167.5.
In the realm of other precious metals, silver depreciated by 0.8 percent, reaching $24.83 per ounce.
