Today’s Gold Price (18 August 2023): Gold and silver are both trading higher on the Multi Commodity Exchange (MCX) on Friday. Check out the most recent city-specific pricing here.
On Friday, August 18, both gold and silver prices increased on the Multi Commodity Exchange (MCX).
Gold futures expiring on October 5, 2023, were trading at Rs 59,429 per 10 grams on the MCX, up Rs 104 or 0.18 percent.
Similarly, silver futures due on September 5, 2023 saw a Rs 402 or 0.57 percent increase and were trading at Rs 70,450 a kg on the MCX.
When the market closed on August 17, gold and silver prices were Rs 58,290 per 10 grams and Rs 70,018 per kg, respectively.
GOLD, SILVER PRICES IN MAJOR CITIES
|CITY||GOLD (per 10 grams, 22 carats)||SILVER (per kg)|
|NEW DELHI||Rs 54,250||Rs 73,500|
|MUMBAI||Rs 54,100||Rs 73,500|
|KOLKATA||Rs 54,100||Rs 73,500|
|CHENNAI||Rs 54,550||Rs 76,700|
|AHMEDABAD||Rs 55,190||Rs 73,500|
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
On Friday, gold moved up from 5-month lows as the US dollar and bond yields retreated slightly from highs, but bullion was set for its fourth consecutive weekly fall on expectations the Federal Reserve will keep interest rates higher for longer, according to news agency Reuters.
According to the most recent metal report, spot gold rose 0.2% to $1,892.02 per ounce by 0358 GMT, after falling to its lowest level since mid-March on Thursday. Gold futures in the United States climbed 0.4% to $1,921.90.
The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, announced another fall in holdings by 6.93 metric tons to their lowest since January 2020, reflecting the pessimistic mood among gold investors.
Among other precious metals, spot silver rose 0.6% to $22.82 per ounce.