Gold and silver prices: Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Thursday. The price of 24-carat gold decreased by Rs 380, with 10 grams of the precious metal trading at Rs 72,560 at 8 am on Thursday. Similarly, the price of silver also saw a dip by Rs 130, with 1 kilogram of the precious metal selling at Rs 96,470 in the country.
City-wise rates of gold (per 10 gm) and silver (per kg):
New Delhi:
Gold: 72,300
Silver: 96,126
Noida:
Gold: 72,440
Silver: 96,320
Mumbai:
Gold: 72,420
Silver: 96,290
Chennai:
Gold: 72,630
Silver: 96,570
Bengaluru:
Gold: 72,480
Silver: 96,370
Pune:
Gold: 72,420
Silver: 96,290
Ahmedabad:
Gold: 72,520
Silver: 96,420
Kolkata:
Gold: 72,330
Silver: 96,160
Chandigarh:
Gold: 72,420
Silver: 96,290
Patna:
Gold: 72,380
Silver: 96,240
Ranchi:
Gold: 72,440
Silver: 96,320
Nagpur:
Gold: 72,420
Silver: 96,290
Srinagar:
Gold: 72,550
Silver: 96,460
Varanasi:
Gold: 72,440
Silver: 96,320
Rajkot:
Gold: 72,520
Silver: 96,420
Surat:
Gold: 72,520
Silver: 96,420
Kanpur:
Gold: 72,440
Silver: 96,320
Lucknow:
Gold: 72,440
Silver: 96,320
Why do prices of gold, silver fluctuate?
The prices of gold and silver fluctuate due to a variety of factors, including insights from esteemed jewellers. Key influences include global demand for gold, exchange rate fluctuations, prevailing interest rates, and government regulations governing gold trading. Additionally, international events such as the overall state of the global economy and the strength of the US dollar relative to other currencies significantly affect gold prices in the Indian market.
ALSO READ: Govt holds new wastage norms for gold, silver jewellery exports
