Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Wednesday, November 15, 2023.
Gold futures, maturing on December 5, 2023, stood at Rs 60,340 per 10 grams on the MCX, after recording a marginal hike of Rs 257 or 0.43 per cent.
The previous close was recorded at Rs 60,065.
Meanwhile, silver futures, maturing on December 5, 2023, witnessed a hike of Rs 527 or 0.74 per cent and were retailing at Rs 72,136 per kg on the MCX against the previous close of Rs 71,593.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 56,100 | Rs 74,800 |
| MUMBAI | Rs 55,950 | Rs 74,800 |
| KOLKATA | Rs 55,950 | Rs 74,800 |
| CHENNAI | Rs 56,450 | Rs 77,700 |
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 extended gains on Wednesday, supported by a weaker US dollar and bond yields after data showing slowing inflation in the US bolstered the view that the Federal Reserve is done with its rate-hike campaign, news agency Reuters reported.
According to the latest metal report, spot gold was up 0.2 per cent at $1,965.83 per ounce, as of 0319 GMT after rising 0.9 per cent overnight. US gold futures gained 0.2 per cent to $1,969.50.
Spot silver rose 0.3 per cent to $23.15 per ounce, among other precious metals.
