| Metal | Price (Rs) | Change | Percentage Change |
|---|---|---|---|
| Gold (24k, per 10 grams) | 59,213 | -69 | -0.12% |
| Gold (22k, per 10 grams) | 55,213 | -49 | -0.09% |
| Silver (per kg) | 72,320 | -249 | -0.34% |
Gold futures, with a maturity date of October 5, 2023, were valued at Rs 59,213 per 10 grams on the MCX. They experienced a slight dip of Rs 69, equivalent to 0.12 percent.
In contrast, silver futures, set to mature on December 5, 2023, saw a decrease of Rs 249, or 0.34 percent, trading at Rs 72,320 per kilogram on the MCX, compared to the previous closing price of Rs 74,685.
As of September 18, the closing prices for gold and silver were Rs 59,282 per 10 grams and Rs 72,569 per kilogram, respectively.
The pricing of these precious metals in India is influenced by various factors, including the exchange rate of the rupee against the dollar. Additionally, global demand plays a pivotal role in shaping the trends observed in the rates of these valuable commodities.
INTERNATIONAL MARKET PERFORMANCE OF GOLD AND SILVER
On this particular Wednesday, gold prices remained subdued due to investor caution leading up to the Federal Reserve’s policy decision. The U.S. central bank is expected to maintain its current interest rates, although the possibility of future increases later in the year remains a looming prospect, as reported by the news agency Reuters.
According to the latest metal report, spot gold experienced a 0.1% decline, resting at $1,929.86 per ounce as of 0517 GMT. This level remained below the peak reached on Tuesday, September 5. U.S. gold futures exhibited a minor decrease of 0.1%, reaching $1,951.10.
Among other precious metals, spot silver exhibited a decline of 0.7%, reaching $23.08 per ounce.
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