Gold, silver price today, November 9, 2023: Precious metals witness dip on MCX
Gold Price Today 9 November 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.
After witnessing mixed trends yesterday, both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Thursday, November 9, 2023.
Gold futures, maturing on December 5, 2023, stood at Rs 59,905 per 10 grams on the MCX, after recording a marginal dip of Rs 125 or 0.21 percent. The previous close was recorded at Rs 60,009.
Similarly, silver futures, maturing on December 5, 2023, witnessed a downfall of Rs 670 or 0.94 per cent and were retailing at Rs 70,450 per kg on the MCX against the previous close of Rs 71,050.
GOLD AND SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,850 | Rs 73,200 |
| MUMBAI | Rs 55,700 | Rs 73,200 |
| KOLKATA | Rs 55,700 | Rs 73,200 |
| CHENNAI | Rs 56,150 | Rs 76,200 |
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 PRICE IN INTERNATIONAL MARKET
Gold prices lingered near a three-week low on Thursday as the initial safe-haven demand from the Middle East conflict faded, while investors awaited comments from U.S. Federal Reserve Chair Jerome Powell for more clues on interest rates, news agency Reuters reported.
According to the latest metal report, spot gold was down 0.1 per cent at $1,948.39 per ounce by 0337 GMT after hitting its lowest since October 19 on Wednesday. US gold futures fell 0.2 per cent to $1,953.50.
Gold prices rose above the key $2,000-per-ounce level last week after escalating tensions in the Middle East lifted demand.
Among other precious metals, spot silver fell 0.5 per cent to $22.41 per ounce.