Precious metals showed mixed trends in the Indian markets today. Gold is trading on the lower side of the Multi Commodity Exchange (MCX) while silver prices have recorded a hike on Friday, May 24.
Gold futures, maturing on June 5, 2024, stood at Rs 71,461 per 10 grams, after recording a marginal dip of Rs 116 or 0.16 per cent. The previous close was recorded at Rs 71,577.
Meanwhile, silver futures, due on July 5, 2024, witnessed a hike of Rs 329 or 0.36 per cent and were retailing at Rs 90,766 per kg on the MCX against the previous close of Rs 90,437.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,655 | Rs 92,000 |
| MUMBAI | Rs 6,640 | Rs 92,000 |
| KOLKATA | Rs 6,640 | Rs 92,000 |
| CHENNAI | Rs 6,650 | Rs 96,500 |
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 RATE IN INTERNATIONAL MARKET
Gold prices hit a two-week low on Friday, set for their biggest weekly loss in nearly eight months, as interest rate cut expectations started to dwindle after a hawkish tone in the U.S. Federal Reserve minutes, news agency Reuters reported.
According to the latest metal report, spot gold stood at $2,330.19 per ounce, as of 0341 GMT. US gold futures eased 0.3 per cent at $2,330.80.
Among other precious metals, spot silver rose 0.4 per cent to $30.21.
Source Agencies
