Gold, silver price today, July 5, 2023: Yellow metal records hike, silver trades lower on MCX
Gold Price Today 5 July 2023: Gold is trading on the higher side while silver rates have recorded a dip on the Multi Commodity Exchange (MCX) on Wednesday. Check the latest city-wise prices here.
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, July 5.
Gold futures, maturing on August 4, 2023, stood at Rs 58,462 per 10 grams, after recording a marginal hike of Rs 51 or 0.09 per cent. The previous close was recorded at Rs 58,409.
Meanwhile, silver futures, due on September 5, 2023, witnessed a downfall of Rs 62 or 0.09 per cent and were retailing at Rs 70,499 per kg on the MCX against the previous close of Rs 70,542.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 54,300 | Rs 72,200 |
| MUMBAI | Rs 54,150 | Rs 72,200 |
| KOLKATA | Rs 54,150 | Rs 72,200 |
| CHENNAI | Rs 54,600 | Rs 75,800 |
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 stuck to a narrow range on Wednesday as investors awaited the release of the U.S. Federal Reserve’s latest monetary policy meeting minutes later in the day, with a stronger dollar also weighing on prices, news agency Reuters reported.
According to the latest metal report, spot gold was little changed at $1,923.66 per ounce by 0243 GMT, while U.S. gold futures rose 0.1 per cent to $1,931.20.
Spot silver held steady at $22.9396 per ounce, among other precious metals.