Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Friday, November 8, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 77,385 per 10 grams on the MCX, after recording a dip of Rs 26 or 0.03 per cent. The previous close was recorded at Rs 77,411.
Similarly, silver futures, maturing on December 5, 2024, witnessed a dip of Rs 99 or 0.11 per cent and were retailing at Rs 92,214 per kg on the MCX against the previous close of Rs 92,313.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 7,300 | Rs 94,000 |
| MUMBAI | Rs 7,285 | Rs 94,000 |
| KOLKATA | Rs 7,285 | Rs 94,000 |
| CHENNAI | Rs 7,285 | Rs 1,03,000 |
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 eased on Friday but hovered around the $2,700 level, as traders assessed the impact of Donald Trump’s presidency and its implications for the U.S. interest rate outlook, news agency Reuters reported.
According to the latest metal report, spot gold fell 0.4 per cent to $2,697.19 per ounce by 0251 GMT, while, U.S. gold futures were flat at $2,704.50.
Among other precious metals, spot silver fell 0.8 per cent to $31.75 per ounce.
