Business news: Both gold and silver prices are retailing on the higher side of the Multi Commodity Exchange (MCX) on Wednesday, May 3. Precious metals had recorded a dip yesterday.
Gold futures, maturing on June 5, 2023, stood at Rs 60,780 per 10 grams on the MCX, after recording a hike of Rs 112 or 0.18 per cent.
Similarly, silver futures, maturing on July 5, 2023, also witnessed a jump of Rs 46 or 0.06 percent and were trading at Rs 76,444 per kg on the MCX.
The prices of gold and silver stood at Rs 60,628 per 10 grams and Rs 76,248 per kg respectively when the market closed on May 2.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 56,650 | Rs 76,800 |
| MUMBAI | Rs 56,500 | Rs 76,800 |
| KOLKATA | Rs 56,500 | Rs 76,800 |
| CHENNAI | Rs 57,060 | Rs 81,800 |
Business news: 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 PRICE ON INTERNATIONAL MARKET
Gold prices held steady above the key $2,000 level on Wednesday, while investors turned their attention to the U.S. Federal Reserve’s interest rate-hike verdict due later in the day. U.S. gold futures were up 0.1 per cent at $2,026.10, news agency Reuters reported.
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