Both gold and silver prices saw an uptick on the Multi Commodity Exchange (MCX) on Friday, May 10, 2024.
Gold futures, maturing on June 5, 2024, reached Rs 72,094 per 10 grams on the MCX, marking a rise of Rs 455 or 0.64% from the previous close of Rs 71,639.
Similarly, silver futures, maturing on July 5, 2024, experienced an increase of Rs 486 or 0.58%, reaching Rs 84,985 per kg on the MCX compared to the previous close of Rs 84,499.
Here are the city-wise prices for gold and silver:
- **New Delhi**: Gold (per 10 grams, 22 carats) - Rs 66,290; Silver (per kg) - Rs 85,300
- **Mumbai**: Gold (per 10 grams, 22 carats) - Rs 66,140; Silver (per kg) - Rs 85,300
- **Kolkata**: Gold (per 10 grams, 22 carats) - Rs 66,140; Silver (per kg) - Rs 85,300
- **Chennai**: Gold (per 10 grams, 22 carats) - Rs 67,050; Silver (per kg) - Rs 90,000
The prices of gold and silver in India are influenced by various factors, including the exchange rate of the rupee against the dollar and global demand.
In the international market, gold prices strengthened on Friday, heading towards their best week since April 5. This was driven by recent economic data that increased expectations of an interest rate cut from the Federal Reserve. Spot gold rose by 0.2% to $2,350.87 per ounce, while U.S. gold futures gained 0.7% to $2,356.90 per ounce. Spot silver also saw a slight increase of 0.2% to $28.38 per ounce.
