Key Takeaways:
- Both gold and silver prices dipped on the Multi Commodity Exchange (MCX) on June 13, 2024.
- Gold futures for August 5, 2024, were at Rs 71,420 per 10 grams, while silver futures for July 5, 2024, were at Rs 88,434 per kg on the MCX.
- Gold and silver prices in major cities like New Delhi, Mumbai, Kolkata, and Chennai vary but are influenced by factors like the value of the rupee and global demand.
Gold, Silver Prices in Major Cities:
| CITY | GOLD (per 1 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 6,625 | Rs 90,700 |
| MUMBAI | Rs 6,615 | Rs 90,700 |
| KOLKATA | Rs 6,615 | Rs 90,700 |
| CHENNAI | Rs 6,660 | Rs 95,200 |
The prices of both gold and silver on the Multi Commodity Exchange (MCX) experienced a decline on June 13, 2024. Gold futures maturing on August 5, 2024, were priced at Rs 71,420 per 10 grams, marking a marginal drop of Rs 550 or 0.76%. Silver futures maturing on July 5, 2024, saw a decrease of Rs 2,011 or 2.22%, retailing at Rs 88,434 per kg compared to the previous close of Rs 90,445.
The variations in gold and silver prices in major cities like New Delhi, Mumbai, Kolkata, and Chennai are affected by different factors, including the value of the rupee against the dollar and global demand for precious metals.
FAQs:
1. What caused the dip in gold and silver prices on June 13, 2024?
The decline in gold and silver prices on the Multi Commodity Exchange (MCX) on June 13, 2024, can be attributed to various factors such as market sentiment, demand-supply dynamics, and global economic conditions impacting precious metal prices.
2. Why do gold and silver prices vary in different major cities in India?
The variation in gold and silver prices in cities like New Delhi, Mumbai, Kolkata, and Chennai is influenced by factors like transportation costs, taxes, local demand, and the overall cost of doing business in those specific regions.
3. How can global demand affect gold and silver prices in India?
Global demand for gold and silver plays a significant role in determining their prices in India as these metals are traded internationally, and any shifts in global demand can impact their availability and cost, subsequently affecting prices in the Indian market.
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