Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Thursday, July 25, 2024.
Gold futures, maturing on August 5, 2024, stood at Rs 67,746 per 10 grams on the MCX, after recording a dip of Rs 1,206 or 1.75 per cent. The previous close was recorded at Rs 68,952.
Similarly, silver futures, maturing on September 5, 2024, witnessed a dip of Rs 3,495 or 4.12 per cent and were retailing at Rs 81,399 per kg on the MCX against the previous close of Rs 84,894.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,509 | Rs 87,400 |
| MUMBAI | Rs 6,494 | Rs 87,400 |
| KOLKATA | Rs 6,494 | Rs 87,400 |
| CHENNAI | Rs 6,489 | Rs 91,900 |
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 fell nearly 1% on Thursday, as investors booked profits ahead of U.S. economic data that could offer more cues on when the central bank will cut interest rates this year and by how much, news agency Reuters reported.
According to the latest metal report, spot gold fell 0.9 per cent to $2,377.29 per ounce by 0217 GMT, while, U.S. gold futures fell 1.6 per cent to $2,376.70.
Among other precious metals, spot silver fell 2.8 per cent to $28.18 per ounce.