Gold, silver price today, October 19, 2023: Precious metals witness dip on MCX | Check latest rates here
Gold Price Today October 19, 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. Check the latest city-wise prices here.
Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Thursday, October 19, 2023.
Gold futures, maturing on December 5, 2023, stood at Rs 59,862 per 10 grams on the MCX, after recording a marginal dip of Rs 211 or 0.35 per cent. The previous close was recorded at Rs 60,073.
Meanwhile, silver futures, maturing on December 5, 2023, witnessed a hike of Rs 209 or 0.29 per cent and were retailing at Rs 71,686 per kg on the MCX against the previous close of Rs 71,895.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,610 | Rs 74,100 |
| MUMBAI | Rs 55,700 | Rs 74,100 |
| KOLKATA | Rs 55,700 | Rs 74,100 |
| CHENNAI | Rs 55,850 | Rs 77,500 |
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 hovered near a 2-1/2-month high on Thursday as escalating Middle East turmoil buoyed demand for the safe-haven asset, while investors awaited U.S. Federal Reserve Chair Jerome Powell’s speech due later in the day, news agency Reuters reported.
According to the latest metal report, spot gold was steady at $1,947.45 per ounce by 0318 GMT, while, U.S. gold futures fell 0.4 per cent to $1,959.70
Among other precious metals, spot silver was flat at $22.86 per ounce.