Gold, silver price today, September 8, 2023: Precious metals record hike on MCX | Check latest rates
Gold Price Today 8 September 2023: Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Friday. Check the latest city-wise prices here.
Both gold and silver prices have recorded a hike on the Multi Commodity Exchange (MCX) on Friday, September 8.
Gold futures, maturing on October 5, 2023, stood at Rs 59,154 per 10 grams on the MCX, after recording a marginal hike of Rs 116 or 0.20 percent.
Similarly, silver futures, maturing on December 5, 2023, also witnessed a jump of Rs 289 or 0.40 percent and were trading at Rs 72,094 per kg on the MCX.
The prices of gold and silver stood at Rs 58,998 per 10 grams and Rs 71,770 per kg respectively when the market closed on September 7.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 55,050 | Rs 74,000 |
| MUMBAI | Rs 54,900 | Rs 74,000 |
| KOLKATA | Rs 54,900 | Rs 74,000 |
| CHENNAI | Rs 55,200 | Rs 77,500 |
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 firmed on Friday but were set for a weekly decline as the dollar and Treasury yields held firm with strong U.S. economic data raising concerns of the Federal Reserve keeping interest rates higher for longer, news agency Reuters reported.
According to the latest metal report, spot gold was up 0.2 per cent at $1,922.87 per ounce, as of 0116 GMT, but set for a 0.8 per cent weekly fall. US gold futures rose 0.2 per cent to $1,946.90.
Among other precious metals, spot silver rose 0.2 per cent to $23.01 per ounce.