On the Multi Commodity Exchange (MCX), both gold and silver are trading on the higher side on August 23, 2021.

Gold, silver prices: Precious metals witness marginal hike on MCX | Check latest rates here

HIGHLIGHTS

  • Gold is trading at Rs 47,215 per 10 grams on the MCX.
  • Silver is retailing at Rs 62,144 per kg, witnessing a jump of Rs 223.
  • In New Delhi, gold (22 carat) is being sold at Rs 46,280 per 10 grams.

After witnessing a marginal hike on Friday last week, both gold and silver are again trading on the higher side of the Multi Commodity Exchange (MCX) on Monday. Gold futures maturing on October 5, stand at Rs 47,215 per 10 grams, recording a jump of Rs 72 or 0.15 per cent.

Meanwhile, silver futures maturing on September 3 also recorded a hike and stand at Rs 62,144 per kg, with an increase of Rs 223 or 0.36 per cent.

On Friday (August 20), while gold observed a hike of Rs 141 or 0.30 per cent and was retailing at Rs 47,235 per 10 grams, silver witnessed a jump of Rs 127 or 0.20 per cent and stood at Rs 62,185 per kg on the MCX.

Gold and silver prices on the international market:

According to Reuters, on Monday, gold prices inched slightly lower as the dollar held near recent highs. However, the losses were limited by growing concerns over the economic fallout from the spread of the Delta coronavirus variant. The U.S. dollar traded near the 9-1/2-month high hit last week, denting gold’s allure for holders of other currencies.

Spot gold fell by 0.1 per cent to $1,779.12 per ounce, while U.S. gold futures were down by 0.2 per cent to $1,780.40. Meanwhile, last week, physical gold demand moderated in top Asian hubs as a rebound in domestic prices and a seasonal lull slowed market activity.

Furthermore, silver rose by 0.2 per cent to $23.05 per ounce, while platinum firmed 0.3 per cent at $998.85.

Gold and silver prices in India:

CITY GOLD (per 10 grams,22 carats) SILVER (per kg)
New Delhi Rs 46,280 Rs 62,000
Kolkata Rs 46,480 Rs 62,000
Chennai Rs 44,630 Rs 66,600
Mumbai Rs 46,190 Rs 62,000

In India, gold and silver rates largely depend on the international prices and are calculated keeping the latter as bases. Other factors like the USD to INR conversion rate and the supply and demand of gold and silver in MCX trading also play a key role in determining the prices of these precious metals.

READ MORE: Gold and Silver prices record marginal hike on MCX| Check latest rates here

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