In a remarkable turn of events, both gold and silver prices have witnessed a significant surge on the Multi Commodity Exchange (MCX). As of April 3, 2024, these precious metals have reached new heights, impacting investors and traders alike.
The Gold Rally
Gold futures, maturing on June 5, 2024, now stand at Rs 69,379 per 10 grams on the MCX. This impressive figure reflects a substantial jump of Rs 451 or 0.65% from the previous close, which was recorded at Rs 68,928.
Silver’s Remarkable Climb
Meanwhile, silver futures, maturing on May 3, 2024, have experienced a remarkable hike of Rs 926 or 1.20%. The current retail price stands at Rs 77,962 per kg, surpassing the previous close of Rs 77,036.
City-Wise Prices
Here are the gold and silver prices in major cities across India:
- New Delhi:
- Gold (per 10 grams, 22 carats): Rs 63,490
- Silver (per kg): Rs 79,100
- Mumbai:
- Gold (per 10 grams, 22 carats): Rs 63,340
- Silver (per kg): Rs 79,100
- Kolkata:
- Gold (per 10 grams, 22 carats): Rs 63,340
- Silver (per kg): Rs 79,100
- Chennai:
- Gold (per 10 grams, 22 carats): Rs 64,290
- Silver (per kg): Rs 82,100
Global Factors
The prices of gold and silver in India are influenced by several factors, including the value of the rupee against the dollar and global demand. In the international market, gold has scaled yet another record peak due to growing tensions in the Middle East. Despite a stronger dollar, traders continue to invest in gold as a safe-haven asset.
