Gold, silver price today, January 25, 2024: Precious metals witness dip on MCX| Check latest rates here
Gold Price Today 25 January 2024: Both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX) on Thursday. Check the latest city-wise prices here.
Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Thursday, January 25, 2024.
Gold futures, maturing on February 5, 2024, stood at Rs 61,876 per 10 grams on the MCX, after recording a marginal dip of Rs 109 or 0.18 per cent. The previous close was recorded at Rs 61,985.
Meanwhile, silver futures, maturing on March 5, 2024, witnessed a dip of Rs 249 or 0.35 per cent and were retailing at Rs 71,620 per kg on the MCX against the previous close of Rs 71,869.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 57,850 | Rs 77,000 |
| MUMBAI | Rs 57,700 | Rs 77,000 |
| KOLKATA | Rs 57,700 | Rs 77,000 |
| CHENNAI | Rs 58,300 | 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 IN INTERNATIONAL MARKET
Gold eased on Wednesday after data showed strong U.S. business activity, even as a weakened dollar limited losses, while investors looked ahead to more economic indicators to assess when the Federal Reserve might first cut interest rates, news agency Reuters reported.
According to the latest metal report, spot gold dipped 0.7% at $2,014.56 per ounce by 1913 GMT, while, U.S. gold futures dipped 0.5% at $2,016.0
Among other precious metals, spot silver rose 1.2% to $22.7 per ounce.