Gold, silver price today, August 3, 2023: Precious metals witness dip on MCX | Check latest rates here
Gold Price Today August 3, 2023: 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 have recorded a downfall on the Multi Commodity Exchange (MCX) on Thursday, August 3, 2023.
Gold futures, maturing on October 5, 2023, stood at Rs 59,439 per 10 grams, after recording a marginal dip of Rs 68 or 0.11 percent. The previous close was recorded at Rs 59,471.
Similarly, silver futures, due on September 5, 2023, witnessed a downfall of Rs 307 or 0.42 percent and were retailing at Rs 72,749 per kg on the MCX against the previous close of Rs 72,960.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 54,850 | Rs 72,000 |
| MUMBAI | Rs 54,700 | Rs 72,000 |
| KOLKATA | Rs 54,700 | Rs 72,000 |
| CHENNAI | Rs 55,050 | Rs 75,000 |
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 PRICE IN INTERNATIONAL MARKET
Gold prices held near three-week lows on Thursday after a larger-than-expected increase in U.S. private payrolls in July fuelled bets on more monetary policy tightening and boosted the dollar and bond yields, news agency Reuters reported.
According to the latest metal report, spot gold was up 0.2 per cent at $1,937.39 by 0400 GMT, trading near its lowest level since July 12 hit in the previous session. U.S. gold futures fell 0.1 per cent to $1,972.90 per ounce.
Non-yielding gold is often sought as a safe investment during times of economic uncertainty but tends to lose its sheen when rates rise.
Spot silver was down 0.2 per cent at $23.67 an ounce, among other precious metals.