Gold, silver price today, June 22, 2023: Precious metals witness dip on MCX | Check latest rates here

After witnessing mixed trends in the Indian market for three consecutive days, both gold and silver prices have recorded a downfall on Multi Commodity Exchange (MCX) on Thursday, June 22, 2023.

Gold futures, maturing on August 4, 2023, stood at Rs 58,663 per 10 grams, after recording a marginal dip of Rs 74 or 0.13 percent. The previous close was recorded at Rs 58,714.

Similarly, silver futures, due on July 5, 2023, witnessed a downfall of Rs 458 or 0.66 percent and were retailing at Rs 68,915 per kg on the MCX against the previous close of Rs 69,247.

GOLD AND SILVER PRICES IN MAJOR CITIES

CITY                   GOLD (per 10 grams, 22 carats)   SILVER (per kg)
NEW DELHI      Rs 54,850                                          Rs 72,000
MUMBAI          Rs 54,700                                           Rs 72,000
KOLKATA         Rs 54,700                                          Rs 72,000
CHENNAI         Rs 55,050                                         Rs 75,000

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 PRICE IN INTERNATIONAL MARKET

Gold prices were little-changed on Thursday on renewed talks of interest rate hikes this year by the U.S. Federal Reserve, keeping bullion pinned near a three-month low hit in the previous session, news agency Reuters reported.

According to the latest metal report, spot gold was flat at $1,932.35 per ounce by 0242 GMT. U.S. gold futures ticked down 0.1 per cent to $1,942.70. Gold could trade between $1,900 to $1,980 until the next Fed decision, Meir added.

Spot silver was little changed at $22.6293 per ounce, among other precious metals.