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Gold, silver price: Precious metals witness marginal dip on MCX | Check latest rates here

India Today logo India Today 14-06-2021 India Today Web Desk
a hand holding a cellphone: Gold, silver price: Precious metals witness marginal dip on MCX | Check latest rates here Gold, silver price: Precious metals witness marginal dip on MCX | Check latest rates here

After witnessing a slight jump on Friday, gold and silver futures are trading on the lower side on the Multi Commodity Exchange on Monday. Gold futures maturing on August 5 stand at Rs 48,903 per 10 grams with a drop of 0.87 per cent or Rs 404.

The silver futures maturing on July 5 stands at Rs 72,227 per kg, recording a fall of Rs 492 or 0.68 per cent on the MCX.

On Friday, the precious metals saw a hike as gold futures were trading at Rs 49,283 per 10 grams. Similarly, silver stood at Rs 72,249 per kg with a hike of Rs 320 or 0.44 per cent.

Gold and silver rates on the international market

On the international front as well, gold prices have dropped to their lowest level in over a week, weighed down by a stronger dollar. US gold futures fell 0.6 per cent to $1,867.60 per ounce, according to a Reuters report.

Spot gold was also down by 0.6 per cent at $1,864.58 per ounce, its lowest since June 4, 2021.

On the other hand, the dollar strengthened by 0.1 per cent to hover near a one-week high, which has made gold more expensive for holders of other currencies.

In addition to this, silver dropped by 0.3 per cent to $27.80 per ounce while platinum dipped by 0.6 per cent to $1,143.71.

Gold and Silver rates in India

CITY GOLD (per 10 gram, 22Ct) SILVER (per kg)
New Delhi Rs 47,880 Rs 72,400
Mumbai Rs 47,720 Rs 72,400
Chennai Rs 46,050 Rs 77,300
Kolkata Rs 48,480 Rs 72,200

In India, the prices of gold and silver depend on various factors. One of the key components in deciding the gold rates is the prices on the international market. Several factors such as the value of the rupee against the dollar and global demand for the metal also play a crucial role in deciding the rates of gold and silver in India.

READ MORE: Gold and Silver prices jump on MCX today| Check city-wise latest rates here

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