For the third day in a row, both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Thursday, December 28, 2023.
Gold futures, maturing on February 5, 2024, stood at Rs 63,815 per 10 grams on the MCX, after recording a marginal hike of Rs 111 or 0.17 per cent.
Similarly, silver futures, maturing on March 5, 2024, also witnessed a jump of Rs 17 or 0.02 percent and were trading at Rs 75,743 per kg on the MCX.
The prices of gold and silver stood at Rs 63,678 per 10 grams and Rs 75,647 per kg respectively when the market closed yesterday, December 27.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 59,050 | Rs 79,500 |
| MUMBAI | Rs 58,900 | Rs 79,500 |
| KOLKATA | Rs 58,900 | Rs 79,500 |
| CHENNAI | Rs 59,450 | Rs 81,000 |
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.