Gold, silver price today, March 7, 2024: Yellow metal records hike, silver trades lower on MCX

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 Thursday, March 7.

Gold futures, maturing on April 5, 2024, stood at Rs 65,253 per 10 grams, after recording a marginal hike of Rs 75 or 0.12 per cent. The previous close was recorded at Rs 65,178.

Meanwhile, silver futures, due on March 5, 2024, witnessed a downfall of Rs 269 or 0.36 per cent and were retailing at Rs 73,869 per kg on the MCX against the previous close of Rs 74,138.

GOLD AND SILVER PRICES IN MAJOR CITIES

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 rallied to a record on Wednesday, building on stellar momentum driven mostly by bets for U.S. monetary easing, while autocatalyst palladium popped back above the $1,000 mark for the first time since Jan. 12, news agency Reuters reported.

According to the latest metal report, spot gold was up by 0.8 per cent at $2,145.09 per ounce by 1903 GMT, while, U.S. gold futures rose 0.8 per cent at $2,158.2.

Among other precious metals, spot silver was up by 1.9 per cent to $24.15 per ounce.