Gold, silver price today, January 12, 2024: Precious metals record hike on MCX
Gold Price Today January 12, 2024: Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Friday. Check the latest city-wise prices here.
For the second day in a row, both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Friday, January 12, 2024.
Gold futures, maturing on February 5, 2024, stood at Rs 62,356 per 10 grams on the MCX, after recording a marginal hike of Rs 380 or 0.62 per cent. The previous close was recorded at Rs 61,788.
Meanwhile, silver futures, maturing on March 5, 2024, witnessed a hike of Rs 461 or 0.65 per cent and were retailing at Rs 72,110 per kg on the MCX against the previous close of Rs 71,354.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 57,850 | Rs 76,000 |
| MUMBAI | Rs 57,700 | Rs 76,000 |
| KOLKATA | Rs 57,700 | Rs 76,000 |
| CHENNAI | Rs 58,200 | Rs 77,500 |
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 ON INTERNATIONAL MARKET
Gold prices rose on Friday as international strikes on Yemen added to fears of further escalation in the Middle East conflict, pushing up bullion's safe-haven appeal.
According to the latest metal report, spot gold was up 0.3 per cent at $2,033.89 per ounce, as of 0427 GMT. However, it has fallen 0.6 per cent so far this week.
US gold futures rose nearly 1 per cent to $2,038.00.
Among other precious metals, spot silver rose 0.4 per cent to $22.82 per ounce.