Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Thursday, July 18, 2024.

Gold futures, maturing on August 5, 2024, stood at Rs 74,438 per 10 grams on the MCX, after recording a jump of Rs 301 or 0.41 per cent.

The previous close was recorded at Rs 74,137.

Meanwhile, silver futures, maturing on September 5, 2024, witnessed a marginal hike of Rs 434 or 0.47 per cent and were retailing at Rs 92,376 per kg on the MCX against the previous close of Rs 91,942.

GOLD, SILVER PRICES IN MAJOR CITIES

GOLD, SILVER PRICES IN MAJOR CITIES

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, SILVER PRICES IN INTERNATIONAL MARKET

Gold prices edged higher on Thursday, trading not too far away from a record high scaled in the previous session, as rising anticipation of a U.S. interest rate cut in September boosted demand, news agency Reuters reported.

According to the latest metal report, spot gold rose 0.1 per cent to $2,461.27 per ounce by 0218 GMT, while, U.S. gold futures rose 0.2 per cent to $2,465.00

Among other precious metals, spot silver rose 0.2 per cent to $30.35 per ounce.