Key Takeaways:
- Gold prices on MCX saw a marginal dip, while silver prices recorded a hike on June 10.
- Gold futures for August 5, 2024, stood at Rs 70,929 per 10 grams, a decrease of Rs 424.
- Silver futures for July 5, 2024, were at Rs 89,263 per kg, an increase of Rs 174.
- Prices of gold and silver in major cities vary based on factors like excise duty and making charges.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 1 gram, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,585 | Rs 91,700 |
| MUMBAI | Rs 6,570 | Rs 91,700 |
| KOLKATA | Rs 6,580 | Rs 91,700 |
| CHENNAI | Rs 6,630 | Rs 96,200 |
The prices of gold and silver in major cities in India are influenced by various factors like excise duty, making charges, and state taxes. It is important for buyers to consider these factors when purchasing these precious metals.
FAQs
1. What caused the mixed trends in gold and silver prices in the Indian market?
The mixed trends in gold and silver prices can be attributed to various factors such as market demand, geopolitical events, and fluctuations in the global economy.
2. Why do gold and silver prices vary in different cities?
Gold and silver prices vary in different cities due to factors like transportation costs, local demand-supply dynamics, and regional taxes.
3. How can consumers stay updated on gold and silver prices in their city?
Consumers can stay updated on gold and silver prices in their city by regularly checking financial news websites, following commodity exchanges, and subscribing to market alerts.
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