Gold and silver prices continue their upward trajectory for the second consecutive day on the Multi Commodity Exchange (MCX) as of Tuesday, September 12.
On the MCX, gold futures maturing on October 5, 2023, reached Rs 58,995 per 10 grams, marking a slight increase of Rs 6 or 0.01 percent.
Similarly, silver futures maturing on December 5, 2023, experienced a significant rise of Rs 238 or 0.33 percent, reaching Rs 72,250 per kg on the MCX.
Comparatively, during the market closure on September 11, the prices of gold and silver were Rs 58,930 per 10 grams and Rs 71,942 per kg, respectively.
GOLD AND SILVER RATES IN MAJOR CITIES
The rates of gold and silver in India are subject to multiple factors, including the currency exchange rate between the rupee and the dollar. Additionally, global demand plays a pivotal role in shaping the trends witnessed in the pricing of precious metals.
GOLD AND SILVER PRICES IN THE INTERNATIONAL MARKET
Gold prices have currently stabilized as investors await the release of US inflation data, which could offer insights into the future of interest rates following the Federal Reserve’s decision to keep the possibility of further policy adjustments open, as reported by Reuters.
According to the latest report on metals, spot gold remained unchanged at $1,922.30 per ounce as of 0306 GMT. Meanwhile, US gold futures registered a marginal decline of 0.1 percent, settling at $1,946.10.
In the realm of other precious metals, spot silver demonstrated a positive performance, rising by 0.4 percent to reach $23.16.