Gold, silver price today, Mar 28, 2023: Precious metals record hike on MCX

After recording a downfall in the Indian market yesterday, both gold and silver prices are retailing on the higher side of the Multi Commodity Exchange (MCX) on Tuesday, March 28.

Gold futures, maturing on April 5, 2023, stood at Rs 58,742 per 10 grams on the MCX, after recording a marginal hike of Rs 174 or 0.30 per cent.

Similarly, silver futures, maturing on May 5, 2023, also witnessed a jump of Rs 164 or 0.23 percent and were trading at Rs 70,190 per kg on the MCX.

The prices of gold and silver stood at Rs 58,526 per 10 grams and Rs 69,926 per kg respectively when the market closed on March 27.

GOLD, SILVER PRICES IN MAJOR CITIES

CITY                       GOLD (per 10 grams, 22 carats)      SILVER (per kg)
NEW DELHI          Rs 54,890                                              Rs 73,300
MUMBAI               Rs 54,700                                             Rs 73,300
KOLKATA             Rs 54,700                                             Rs 73,300
CHENNAI            Rs 55,340                                              Rs 76,000

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.