Gold, silver price today, September 14, 2023: Precious metals witness dip on MCX

by The Technical Blogs

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For the second day in a row, both gold and silver prices have recorded a downfall on the Multi Commodity Exchange (MCX) on Thursday, September 14, 2023.

Gold futures, maturing on October 5, 2023, stood at Rs 58,561 per 10 grams, after recording a marginal dip of Rs 56 or 0.10 percent. The previous close was recorded at Rs 58,593.

Similarly, silver futures, due on December 5, 2023, witnessed a downfall of Rs 320 or 0.45 percent and were retailing at Rs 71,189 per kg on the MCX against the previous close of Rs 71,419.

GOLD AND SILVER PRICES IN MAJOR CITIES

CITY GOLD (per 10 grams, 22 carats) SILVER (per kg)
NEW DELHI Rs 54,650 Rs 73,500
MUMBAI Rs 54,500 Rs 73,500
KOLKATA Rs 54,500 Rs 73,500
CHENNAI Rs 54,800 Rs 77,000

The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes.

GOLD, SILVER PRICE IN INTERNATIONAL MARKET

Gold prices crawled higher on Thursday from nearly three-week lows touched in the previous session as the dollar and Treasury yields weakened after the U.S. inflation data cemented the case for a Federal Reserve rate pause next week, news agency Reuters reported.

According to the latest metal report, spot gold added 0.2 per cent to $1,909.21 per ounce by 0318 GMT, having hit its lowest level since August 25 on Wednesday at $1,905.10. US gold futures were down 0.1 per cent at $1,930.80.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.3 per cent to 882.00 tonnes on Wednesday.

Spot silver dropped 0.4 per cent to $22.74 per ounce, among other precious metals.

Published On:

Sep 14, 2023

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