Gold and silver price latest prices today: Both gold and silver prices have recorded a hike on the Multi Commodity Exchange (MCX) on Friday, September 16. Gold futures, maturing on October 5, 2023, stood at Rs 58,724 per 10 grams on the MCX, after recording a marginal hike of Rs 132 or 0.23 percent.
Similarly, silver futures, maturing on December 5, 2023, also witnessed a jump of Rs 608 or 0.86 percent and were trading at Rs 71,600 per kg on the MCX.
The prices of gold and silver stood at Rs 58,588 per 10 grams and Rs 70,982 per kg respectively when the market closed on September 14.
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, AND SILVER PRICES ON THE INTERNATIONAL MARKET
Gold prices gained on Friday as the dollar eased against the yuan after promising China economic data boosted recovery hopes in the world’s top bullion consumer, although the possibility of further US interest rate hikes kept investors on edge, news agency Reuters reported.
According to the latest metal report, spot gold was up 0.3 percent at $1,915.09 per ounce by 0320 GMT. Bullion was still on track for a small weekly decline after dropping to near the $1,900 level, its lowest since August 23, on Thursday.
US gold futures were up 0.2 percent to $1,936.70.
Spot silver jumped 1 percent to $22.86 per ounce, among other precious metals.