Today’s Gold price is 18 July 2023, and both gold and silver are trading higher on the Multi Commodity Exchange (MCX). Check out the most recent city-specific pricing here.
According to the India Today Business Desk: After trading lower in the Indian market yesterday, gold and silver prices increased on the Multi Commodity Exchange (MCX) on Tuesday, July 18.
On the MCX, gold futures expiring on August 4, 2023 were trading at Rs 59,298 per 10 grams, up Rs 150 or 0.25 percent.
Similarly, silver futures maturing on September 5, 2023 saw a Rs 250 or 0.33 percent increase and were trading at Rs 75,829 per kg on the MCX.
When the market closed on July 17, gold and silver prices were Rs 59,135 per 10 grams and Rs 75,567 per kg, respectively.
PRICES FOR GOLD AND SILVER IN MAJOR CITIES
| CITY | GOLD(per 10 grams,22 carats) | SILVER(per kg) |
| NEW DELHI | Rs 55,130 | Rs 77,700 |
| MUMBAI | Rs 55,100 | Rs 77,700 |
| KOLKATA | Rs 55,100 | Rs 77,700 |
| CHENNAI | Rs 55,360 | Rs 81,500 |
Gold and silver prices in India are determined by a variety of factors, including the value of the rupee against the US dollar. Global demand is very important in driving the trends in precious metals rates.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices moved up on Tuesday as the dollar approached its lowest level in over a year, as traders awaited retail sales data from the United States to measure any impact on the Federal Reserve’s monetary tightening agenda, according to news agency Reuters.
By 0359 GMT, spot gold had risen 0.3% to $1,959.54 per ounce, according to the latest metal report. Gold futures in the United States rose 0.4% to $1,963.70.
The dollar trembled near a one-year low. A weakening dollar lowers the price of gold for holders of other currencies.
Among other precious metals, spot silver rose 0.1% to $24.87 per ounce.
