Gold, silver price today, November 8, 2023: Yellow metal records hike, silver trades lower on MCX
Gold Price Today 8 November 2023: Gold is trading on the higher side while silver rates have recorded a dip on the Multi Commodity Exchange (MCX) on Wednesday. Check the latest city-wise prices here.
After retailing on the lower side for two consecutive days, precious metals showed mixed trends in the Indian markets today.
Gold is trading on the higher side of the Multi Commodity Exchange (MCX) while silver prices have recorded a dip on Wednesday, November 8.
Gold futures, maturing on December 5, 2023, stood at Rs 60,448 per 10 grams, after recording a marginal hike of Rs 41 or 0.07 per cent. The previous close was recorded at Rs 60,347.
Meanwhile, silver futures, due on December 5, 2023, witnessed a downfall of Rs 57 or 0.08 per cent and were retailing at Rs 70,729 per kg on the MCX against the previous close of Rs 70,634.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 56,250 | Rs 73,500 |
| MUMBAI | Rs 56,100 | Rs 73,500 |
| KOLKATA | Rs 56,100 | Rs 73,500 |
| CHENNAI | Rs 56,700 | Rs 76,500 |
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 PRICES IN INTERNATIONAL MARKET
Gold struggled for momentum on Wednesday as investors looked for more clarity on interest rates from the Federal Reserve chief after mixed messages from a host of US central bank policymakers, news agency Reuters reported.
According to the latest metal report, spot gold was unchanged at $1,968.11 per ounce by 0247 GMT after hitting its lowest since October 24 on Tuesday. US gold futures were little changed at $1,974.70.
Among other precious metals, spot silver fell 0.3 per cent to $22.55 per ounce.