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As of March 22, 2024, both gold and silver prices have seen an increase on the Multi Commodity Exchange (MCX) in India. Here are the city-wise prices for these precious metals:
New Delhi:
- Gold (per 10 grams, 22 carats): ₹61,950
- Silver (per kg): ₹78,500
Mumbai:
- Gold (per 10 grams, 22 carats): ₹61,800
- Silver (per kg): ₹78,500
Kolkata:
- Gold (per 10 grams, 22 carats): ₹61,800
- Silver (per kg): ₹78,500
Chennai:
- Gold (per 10 grams, 22 carats): ₹62,360
- Silver (per kg): ₹81,500
Gold futures for August 2024 on the MCX were trading at Rs. 67,370.0 per 10 grams, marking a 1.439% increase at the time of publication. Meanwhile, silver futures for July 2024 on the MCX were trading at Rs. 77,748.0 per kilogram, showing a 1.388% rise.
Various factors contribute to the fluctuations in gold and silver prices, including insights from reputable jewelers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations concerning gold trade. Additionally, international events such as the state of the global economy and the strength of the US dollar against other currencies also exert significant influence on gold prices within the Indian market.
On Thursday, gold prices experienced a marginal rise. The price of 24 carat gold reached Rs. 6,779.1 per gram, reflecting an increase of Rs. 1,153.0. Similarly, the cost of 22 carat gold stood at Rs. 6,209.6 per gram, up by Rs. 1,055.0.
Over the past week, there has been a decrease of -1.3% in the price of 24 carat gold. Looking at the broader timeframe of the last month, there has been a more significant decrease of -6.22% in its price.
