Gold prices on the Multi Commodity Exchange (MCX) experienced a marginal dip on Friday, May 17, with gold futures for June 5, 2024, trading at Rs 72,965 per 10 grams, down by Rs 15 or 0.02% compared to the previous close of Rs 72,980.
In contrast, silver prices saw a slight increase, with silver futures for July 5, 2024, trading at Rs 87,374 per kg, up by Rs 74 or 0.08% from the previous close of Rs 87,300.
Here are the city-wise prices for gold and silver:
- **New Delhi**: Gold - Rs 67,750 per 10 grams (22 carats), Silver - Rs 89,100 per kg
- **Mumbai**: Gold - Rs 67,600 per 10 grams (22 carats), Silver - Rs 89,100 per kg
- **Kolkata**: Gold - Rs 67,600 per 10 grams (22 carats), Silver - Rs 89,100 per kg
- **Chennai**: Gold - Rs 67,700 per 10 grams (22 carats), Silver - Rs 92,500 per kg
The prices of gold vary across different regions due to factors such as excise duty, making charges, and state taxes.
In the international market, gold prices were poised for a second consecutive weekly gain, supported by recent US inflation data that fueled expectations of potential interest rate cuts by the Federal Reserve. Spot gold was up 0.1% at $2,379.14 per ounce, with US gold futures remaining flat at $2,383.20.
However, spot silver fell 0.2% to $29.53 per ounce after reaching an over three-year high in the previous session.
