After trading on the higher side for two consecutive days, both gold and silver prices were retailing on the lower side of the Multi Commodity Exchange (MCX) on Wednesday, May 10, 2023.
Gold futures, maturing on June 5, 2023, stood at Rs 61,400 per 10 grams, after recording a marginal dip of Rs 154 or 0.25 per cent. The previous close was recorded at Rs 61,419.
Similarly, silver futures, due on July 5, 2023, witnessed a downfall of Rs 156 or 0.20 percent and were retailing at Rs 77,374 per kg on the MCX against the previous close of Rs 77,456.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 57,100 | Rs 78,000 |
| MUMBAI | Rs 56,950 | Rs 78,000 |
| KOLKATA | Rs 56,950 | Rs 78,000 |
| CHENNAI | Rs 57,420 | Rs 82,700 |
The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes.
GOLD, SILVER RATES ON INTERNATIONAL MARKET
Gold prices eased into a tight range on Wednesday as traders braced for key U.S inflation data due later in the day, which could impact the Federal Reserve’s policy stance, news agency Reuters reported.
According to the latest metal report, spot gold was down 0.1 per cent at $2,031.43 per ounce, as of 0402 GMT. Meanwhile, U.S. gold futures were down 0.2 per cent at $2,038.20.
