Gold, silver price today, July 13, 2023: Precious metals record hike on MCX | Check latest rates here
Gold Price Today 13 July 2023: Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Thursday. Check the latest city-wise prices here.
For the second day in a row, both gold and silver prices have recorded a hike on the Multi Commodity Exchange (MCX) on Thursday, July 13.
Gold futures, maturing on August 4, 2023, stood at Rs 59,285 per 10 grams on the MCX, after recording a marginal hike of Rs 87 or 0.15 percent.
Similarly, silver futures, maturing on September 5, 2023, also witnessed a jump of Rs 334 or 0.45 percent and were trading at Rs 73,947 per kg on the MCX.
The prices of gold and silver stood at Rs 59,188 per 10 grams and Rs 73,546 per kg respectively when the market closed on July 12.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 54,600 | Rs 73,400 |
| MUMBAI | Rs 54,450 | Rs 73,400 |
| KOLKATA | Rs 54,450 | Rs 73,400 |
| CHENNAI | Rs 54,820 | Rs 77,100 |
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 prices advanced to a near one-month high on Thursday, supported by a softer U.S. dollar, after U.S. inflation data raised hopes that the Federal Reserve would soon stop tightening its monetary policy, news agency Reuters reported.
According to the latest metal report, spot gold was up 0.1 per cent to $1,959.79 per ounce by 0241 GMT, hitting its highest since June 16. Meanwhile, U.S. gold futures ticked up 0.1 per cent to $1,964.30.
"Gold could go higher, closer to the $2,000 mark, however, chances of prices coming down is more likely this quarter, and thus $1,800 remains a possibility," Lan said.
Recent hawkish comments from policymakers have weighed on gold, with bullion down more than $100 since its May highs.
Among other precious metals, spot silver rose 0.3 per cent to $24.2163 per ounce.