Gold, silver price today, July 16, 2024: Precious metals record hike on MCX
Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Tuesday, July 16, 2024.
Gold futures, maturing on August 5, 2024, stood at Rs 73,585 per 10 grams on the MCX, after recording a jump of Rs 114 or 0.16 per cent. The previous close was recorded at Rs 73,471.
Meanwhile, silver futures, maturing on September 5, 2024, witnessed a marginal hike of Rs 327 or 0.35 per cent and were retailing at Rs 92,899 per kg on the MCX against the previous close of Rs 92,572.
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GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,764 | Rs 95,100 |
| MUMBAI | Rs 6,749 | Rs 95,100 |
| KOLKATA | Rs 6,749 | Rs 95,100 |
| CHENNAI | Rs 6,784 | Rs 99,600 |
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.