After retailing on the lower side yesterday, both gold and silver prices have recorded a hike on the Multi Commodity Exchange (MCX) on Friday, May 26.
Gold futures, maturing on June 5, 2023, stood at Rs 59,555 per 10 grams on the MCX, after recording a hike of Rs 46 or 0.08 per cent.
Similarly, silver futures, maturing on July 5, 2023, also witnessed a jump of Rs 261 or 0.37 per cent and were trading at Rs 70,559 per kg on the MCX.
The prices of gold and silver stood at Rs 59,460 per 10 grams and Rs 70,242 per kg respectively when the market closed on May 25.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,800 | Rs 72,900 |
| MUMBAI | Rs 55,650 | Rs 72,900 |
| KOLKATA | Rs 55,650 | Rs 72,900 |
| CHENNAI | Rs 56,050 | Rs 76,200 |
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 rose on Friday as the dollar pulled back from a two-month high, but bullion was poised for a third straight weekly fall as traders assessed the progress of U.S. debt ceiling negotiations and the Federal Reserve’s next policy move, news agency Reuters reported.
