Gold, silver price today, April 18, 2023: Precious metals record hike on MCX | Check latest rates here
After witnessing mixed trends in the Indian market yesterday, both gold and silver prices are retailing on the higher side of the Multi Commodity Exchange (MCX) on Tuesday, April 18.
Gold futures, maturing on June 5, 2023, stood at Rs 60,339 per 10 grams on the MCX, after recording a jump of Rs 105 or 0.17 per cent.
Similarly, silver futures, maturing on May 5, 2023, also witnessed a marginal hike of Rs 75 or 0.10 percent and were trading at Rs 74,936 per kg on the MCX.
The prices of gold and silver stood at Rs 60,180 per 10 grams and Rs 74,812 per kg respectively when the market closed on April 17.
GOLD, SILVER PRICES IN MAJOR CITIES
CITY GOLD (per 10 grams, 22 carats) SILVER (per kg)
NEW DELHI Rs 56,080 Rs 78,500
MUMBAI Rs 55,930 Rs 78,500
KOLKATA Rs 55,930 Rs 78,500
CHENNAI Rs 56,490 Rs 81,600
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, SILVER PRICE ON INTERNATIONAL MARKET
Gold prices rose on Tuesday after two sessions of losses as the dollar eased, while investors sought more clarity on the U.S. Federal Reserve’s monetary policy stance, reported news agency Reuters.
According to the latest metal report, spot gold was up 0.3 per cent at $2,001.09 per ounce, as of 0310 GMT. Meanwhile, U.S. gold futures rose 0.3 per cent to $2,012.40.
Similarly, spot silver fell 0.2 per cent to $25.06 per ounce.
Gold prices fell to an about two-week low on Monday after data showed manufacturing activity in New York state increased for the first time in five months, and confidence among U.S. single-family homebuilders improved for a fourth straight month in April. The data added to bets of an interest rate hike by the Fed at its May meeting.