Gold, silver price today, July 22, 2024: Precious metals record hike on MCX
Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Monday, July 22, 2024.
Gold futures, maturing on August 5, 2024, stood at Rs 73,176 per 10 grams on the MCX, after recording a jump of Rs 186 or 0.25 per cent. The previous close was recorded at Rs 72,990.
Meanwhile, silver futures, maturing on September 5, 2024, witnessed a marginal hike of Rs 38 or 0.04 per cent and were retailing at Rs 89,684 per kg on the MCX against the previous close of Rs 89,646.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,794 | Rs 91,400 |
| MUMBAI | Rs 6,779 | Rs 91,400 |
| KOLKATA | Rs 6,779 | Rs 91,400 |
| CHENNAI | Rs 6,834 | Rs 95,900 |
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 PRICES IN INTERNATIONAL MARKET
Gold prices edged higher on Monday, aided by a softer dollar and expectations of a U.S. interest rate cut, while spotlight shifted to economic data for more clues on the Federal Reserve’s monetary policy path, news agency Reuters reported.
According to the latest metal report, spot gold rose 0.2 per cent to $2,405.27 per ounce by 0230 GMT, while, U.S. gold futures Gaines 0.3 per cent to $2,406.10.
Among other precious metals, spot silver gained 0.5 per cent to $29.12 per ounce.