On 02-11-2024, the latest updates reveal significant information regarding the prices of gold and silver across major cities in India. Both precious metals are closely watched indicators of economic stability, often fluctuating based on several factors including market demand, currency fluctuations, and global economic conditions. In this report, we delve into the current prices of gold and silver, as well as the trends observed in futures trading.
| Gold Prices | Silver Prices | Gold Futures on MCX | Silver Futures on MCX | Factors Influencing Prices | Conclusion |
|---|
Gold Prices
As of today, the prices of gold in major Indian cities are as follows:
| City | Price for 10 grams (24 carat) |
|---|---|
| Delhi | Rs. 80,723.0 |
| Chennai | Rs. 80,571.0 |
| Mumbai | Rs. 80,577.0 |
| Kolkata | Rs. 80,575.0 |
Silver Prices
Meanwhile, the prices of silver are also noteworthy, with current rates as follows:
| City | Price for 1 kilogram |
|---|---|
| Delhi | Rs. 100,000.0 |
| Chennai | Rs. 108,600.0 |
| Mumbai | Rs. 99,300.0 |
| Kolkata | Rs. 100,800.0 |
Gold Futures on MCX
Looking at futures trading, gold futures on the Multi Commodity Exchange (MCX) for December 2024 are currently trading at Rs. 78,830.0 per 10 grams, reflecting a slight increase of 0.51%.
Silver Futures on MCX
In contrast, the silver futures on MCX for May 2025 are priced at Rs. 99,827.0 per kilogram, demonstrating an increase of 1.046% as per recent trading.
Factors Influencing Prices
Understanding the fluctuations in prices for gold and silver comes down to a variety of factors:
- Global Demand: Increased interest in precious metals can drive prices higher.
- Currency Values: Fluctuations in the value of currencies can affect the pricing of gold and silver.
- Interest Rates: Higher interest rates may lead to a decrease in investment in these metals.
- Government Regulations: Changes in regulations can impact supply chains and trading practices.
- International Economic Events: Events such as conflicts, treaties, and economic summits can cause unpredictability in commodity prices.
Conclusion
As the prices of gold and silver are subject to constant change, staying informed is crucial for investors and consumers alike. For more detailed information and the latest updates, please explore the official website.
Frequently Asked Questions (FAQ)
- What drives the price of gold? Various factors including supply and demand, market speculation, and currency values.
- How often do gold and silver prices change? Prices can fluctuate daily based on market conditions.
- Where can I find live updates on gold and silver prices? Websites dedicated to commodity trading or financial news platforms provide live updates.
