Gold and silver prices increase on Multi Commodity Exchange

New Delhi: Gold futures set to mature on August 5, were priced at Rs 71,670 per 10 grams, following a Rs 16 increase, equivalent to 0.02 percent. Rs 71,654 was the closing price in the last session.

At the same time, silver futures expiring on September 5, 2024, saw a slight increase of Rs 117 or 0.13 percent, trading at Rs 89,867 per kg on the MCX compared to the earlier price of Rs 89,750.

The prices of gold and silver in India are influenced by various factors, such as the rupee's value compared to the dollar. The trends seen in the rate of precious metals are also influenced by global demand.

Gold prices remained unchanged on Tuesday as investors anticipated remarks from Federal Reserve Chair Jerome Powell and employment data better to understand the U.S. central bank's interest rate forecast, Reuters news agency stated. Based on the most recent metal report, spot gold was at $2,331.41 per ounce at 0238 GMT, whereas U.S. gold futures increased by 0.1 percent to $2,341.80.

Spot silver dropped by 0.2 percent to $29.38 per ounce, along with other valuable metals Both gold and silver prices experienced an increase on the Multi Commodity Exchange (MCX) on Tuesday, July 2, 2024. On the MCX, gold futures set to mature on August 5, 2024, were priced at Rs 71,670 per 10 grams, following a Rs 16 increase, equivalent to 0.02 percent. Rs 71,654 was the closing price in the last session.

At the same time, silver futures expiring on September 5, 2024, saw a slight increase of Rs 117 or 0.13 percent, trading at Rs 89,867 per kg on the MCX compared to the earlier price of Rs 89,750.

The prices of gold and silver in India are influenced by various factors, such as the rupee's value compared to the dollar. The trends seen in the rate of precious metals are also influenced by global demand.

Gold prices remained unchanged on Tuesday as investors anticipated remarks from Federal Reserve Chair Jerome Powell and employment data to better understand the U.S. central bank's interest rate forecast, Reuters news agency stated. Based on the most recent metal report, spot gold was at $2,331.41 per ounce at 0238 GMT, whereas U.S. gold futures increased by 0.1 percent to $2,341.80. Spot silver dropped by 0.2 percent to $29.38 per ounce, along with other valuable metals.