Gold, silver price today, August 11, 2023: Precious metals record hike on MCX | Check latest rates here
Gold Price Today 11 August 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, August 11.
Gold futures, maturing on October 5, 2023, stood at Rs 58,897 per 10 grams on the MCX, after recording a marginal hike of Rs 27 or 0.05 per cent.
Similarly, silver futures, maturing on September 5, 2023, also witnessed a jump of Rs 59 or 0.08 per cent and were trading at Rs 70,066 per kg on the MCX.
The prices of gold and silver stood at Rs 58,853 per 10 grams and Rs 69,981 per kg respectively when the market closed on August 10.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 54,700 | Rs 73,000 |
| MUMBAI | Rs 54,700 | Rs 73,000 |
| KOLKATA | Rs 54,550 | Rs 73,000 |
| CHENNAI | Rs 54,850 | Rs 76,200 |
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 held near one-month lows on Friday, shrugging off cooler-than-expected U.S. inflation figures for last month, with bullion staying on course to wrap up its worst week in seven as the U.S. dollar and bond yields stood strong, news agency Reuters reported.
According to the latest metal report, spot gold edged 0.1 per cent higher to $1,913.95 per ounce by 0347 GMT, but traded near its lowest level since July 7 touched earlier in the day. U.S. gold futures were down 0.1 per cent at $1,946.20.
Gold gained as much as 0.8 per cent on Thursday after data showed the U.S. consumer price index (CPI) climbed 3.2 per cent on an annual basis, but was less than the Reuters poll forecast of 3.3 per cent, raising bets that the U.S. central bank will unlikely hike interest rates again in 2023.
Gold prices have slid about 1.4 per cent so far in the week as the U.S. dollar index and benchmark 10-year Treasury bond yields were both on track for their fourth consecutive weekly gain.
Among other precious metals, spot silver rose 0.2 per cent to $22.72 an ounce.
