Gold, silver price today, July 19, 2023: Precious metals record hike on MCX | Check latest rates here
Gold Price Today 19 July 2023: Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Wednesday. Check the latest city-wise prices here.
For the second day in a row, both gold and silver prices have recorded a hike on the Multi Commodity Exchange (MCX) on Wednesday, July 19.
Gold futures, maturing on August 4, 2023, stood at Rs 59,813 per 10 grams on the MCX, after recording a marginal hike of Rs 48 or 0.08 per cent.
Similarly, silver futures, maturing on September 5, 2023, also witnessed a jump of Rs 135 or 0.18 per cent and were trading at Rs 76,254 per kg on the MCX.
The prices of gold and silver stood at Rs 59,763 per 10 grams and Rs 76,103 per kg respectively when the market closed on July 18.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,280 | Rs 78,000 |
| MUMBAI | Rs 55,100 | Rs 78,000 |
| KOLKATA | Rs 55,100 | Rs 78,000 |
| CHENNAI | Rs 55,500 | Rs 81,400 |
The gold and silver prices in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices pulled back on Wednesday from a 1-1/2-month high scaled in the previous session even as investors bet that recent U.S. economic readings make the case for a pause in the Federal Reserve’s interest rate-hike stance, news agency Reuters reported.
According to the latest metal report, spot gold was down 0.1 per cent at $1,978.09 per ounce by 0043 GMT, after hitting its highest since May 24 at $1,984.19 on Tuesday.
U.S. gold futures were flat at $1,981.60. Spot silver fell 0.1 per cent to $25.06 per ounce, among other precious metals.