Gold, silver price today, March 11, 2024: Precious metals witness dip on MCX
Gold Price Today 11 March 2024: Both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX) on Monday. Check the latest city-wise prices here.
For the second day in a row, both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Monday, March 11, 2024.
Gold futures, maturing on April 5, 2024, stood at Rs 66,015 per 10 grams on the MCX, after recording a marginal dip of Rs 8 or 0.01 per cent. The previous close was recorded at Rs 66,023.
Meanwhile, silver futures, maturing on May 3, 2024, witnessed a dip of Rs 77 or 0.10 per cent and were retailing at Rs 74,185 per kg on the MCX against the previous close of Rs 74,262.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 60,900 | Rs 75,600 |
| MUMBAI | Rs 60,750 | Rs 75,600 |
| KOLKATA | Rs 60.750 | Rs 75,600 |
| CHENNAI | Rs 61,500 | Rs 79,000 |
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 RATES IN INTERNATIONAL MARKET
Gold prices took a breather from a record-breaking rally on Monday, which was fuelled by a cooling U.S. labor market and remarks from the Federal Reserve, as traders awaited an inflation report for fresh clues on the timing of rate cuts, news agency Reuters reported.
According to the latest metal report, spot gold stood at $2,178.44 per ounce. US gold futures were flat at $2,158.30.
Among other precious metals, spot silver fell 0.3 per cent to $24.25 per ounce.