Gold, silver price today, June 21, 2023: Yellow metal records hike, silver trades lower on MCX | Check rates here
Gold Price Today 21 June 2023: Gold is trading on the higher side while silver rates recorded a dip on the Multi Commodity Exchange (MCX) on Wednesday. Check the latest city-wise prices here.
For the third day in a row, precious metals showed mixed trends in the Indian markets. Gold is trading on the higher side of the Multi Commodity Exchange (MCX) while silver prices have recorded a dip on Wednesday, June 21.
Gold futures, maturing on August 4, 2023, stood at Rs 58,865 per 10 grams, after recording a marginal hike of Rs 46 or 0.08 per cent. The previous close was recorded at Rs 58,809.
Meanwhile, silver futures, due on July 5, 2023, witnessed a downfall of Rs 17 or 0.02 per cent and were retailing at Rs 70,387 per kg on the MCX against the previous close of Rs 70,419.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,150 | Rs 74,000 |
| MUMBAI | Rs 55,000 | Rs 74,000 |
| KOLKATA | Rs 55,000 | Rs 74,000 |
| CHENNAI | Rs 55,350 | Rs 78,600 |
The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices moved in a tight range on Wednesday after two-straight sessions of declines, as investors refrained from making large bets ahead of Federal Reserve Chairman Jerome Powell’s congressional testimony, news agency Reuters reported.
According to the latest metal report, spot gold held its ground at $1,937.26 per ounce by 0248 GMT. U.S. gold futures were almost unchanged at $1,948.40.
While gold is considered a hedge against inflation, interest-rate hikes raise the opportunity cost of holding non-yielding bullion.
Among other precious metals, spot silver fell 0.3 per cent to $23.1177 per ounce.