Gold, silver price today, July 18, 2023: Precious metals record hike on MCX | Check latest rates here
Gold Price Today 18 July 2023: Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Tuesday. Check the latest city-wise prices here.
After retailing on the lower side in the Indian market yesterday, both gold and silver prices have recorded a hike on the Multi Commodity Exchange (MCX) on Tuesday, July 18.
Gold futures, maturing on August 4, 2023, stood at Rs 59,298 per 10 grams on the MCX, after recording a marginal hike of Rs 150 or 0.25 per cent.
Similarly, silver futures, maturing on September 5, 2023, also witnessed a jump of Rs 250 or 0.33 per cent and were trading at Rs 75,829 per kg on the MCX.
The prices of gold and silver stood at Rs 59,135 per 10 grams and Rs 75,567 per kg respectively when the market closed on July 17.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,130 | Rs 77,700 |
| MUMBAI | Rs 55,100 | Rs 77,700 |
| KOLKATA | Rs 55,100 | Rs 77,700 |
| CHENNAI | Rs 55,360 | Rs 81,500 |
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 prices edged up on Tuesday on a dollar that was close to hitting its lowest in over a year, while traders waited for retail sales data from the United States to gauge any impact on the U.S. Federal Reserve's monetary tightening path, news agency Reuters reported.
According to the latest metal report, spot gold rose 0.3 per cent to $1,959.54 per ounce by 0359 GMT. U.S. gold futures gained 0.4 per cent to $1,963.70.
The dollar wobbled near an over one-year low. A weaker dollar makes gold cheaper for holders of other currencies.
Spot silver rose 0.1 per cent to $24.87 per ounce, among other precious metals.