Gold, silver price today, October 4, 2023: Precious metals witness dip on MCX | Check latest rates here
Gold Price Today October 4, 2023: Both gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX) on Wednesday. Check the latest city-wise prices here. Check the latest city-wise prices here.
Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Wednesday, October 4, 2023.
Gold futures, maturing on December 5, 2023, stood at Rs 56,820 per 10 grams on the MCX, after recording a marginal dip of Rs 107 or 0.19 per cent. The previous close was recorded at Rs 56,927.
Meanwhile, silver futures, maturing on December 5, 2023, witnessed a downfall of Rs 372 or 0.55 per cent and were retailing at Rs 67,022 per kg on the MCX against the previous close of Rs 67,394.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 52,750 | Rs 70,700 |
| MUMBAI | Rs 52,590 | Rs 70,700 |
| KOLKATA | Rs 52,590 | Rs 70,700 |
| CHENNAI | Rs 52,850 | Rs 73,100 |
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 headed back towards seven-month lows on Wednesday as an ascending dollar and bond yields after strong U.S. jobs data kept markets expectant of further monetary policy tightening, news agency Reuters reported.
According to the latest metal report, spot gold eased 0.1% to $1,820.70 per ounce by 0332 GMT, while U.S. gold futures fell 0.3 per cent to $1,836.20
Among other precious metals, spot silver fell 0.5 per cent to $21.04 per ounce.