After retailing on the lower side yesterday, both gold and silver prices witnessed a hike on the Multi Commodity Exchange (MCX) on Tuesday, February 14.
Witnessing a hike of Rs 191 or 0.34 per cent, gold futures, maturing on April 5, 2023, were retailing at Rs 56,695 per 10 grams on the MCX.
Similarly, silver futures, maturing on March 3, 2023, also recorded a jump of Rs 291 or 0.44 percent and were trading at Rs 66,674 per kg on the MCX.
The prices of gold and silver stood at Rs 56,497 per 10 grams and Rs 66,144 per kg respectively when the market closed on February 13.
GOLD, SILVER PRICES IN MAJOR CITIES
|CITY||GOLD (per 10 grams, 22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 52,550||Rs 70,400|
|MUMBAI||Rs 52,400||Rs 70,400|
|KOLKATA||Rs 52,400||Rs 70,400|
|CHENNAI||Rs 53,300||Rs 72,500|
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.