Key Takeaways:

• Gold and silver prices saw an increase on the MCX on June 4, 2024.
• Gold futures for August 5, 2024, were priced at Rs 72,211 per 10 grams on the MCX.
• Silver futures for July 5, 2024, were retailing at Rs 92,045 per kg on the MCX.
• Prices for gold and silver in major Indian cities vary based on several factors.

Gold, Silver Prices in Major Cities:

CITY GOLD (per 1 gram, 22 carats) SILVER (per kg) NEW DELHI Rs 6,624 Rs 92,700 MUMBAI Rs 6,609 Rs 92,700 KOLKATA Rs 6,609 Rs 92,700 CHENNAI Rs 6,665 Rs 97,200

The prices of gold and silver in India are influenced by various factors, including currency exchange rates and global demand for precious metals.

FAQ:

1. What caused the rise in gold and silver prices on June 4, 2024?

The hike in gold and silver prices on the MCX can be attributed to multiple factors, such as market demand, global economic conditions, and geopolitical tensions.

2. How do currency exchange rates impact gold and silver prices in India?

The value of the rupee against the dollar affects the cost of importing gold and silver, thereby influencing their prices in the Indian market.

3. What role does global demand play in determining the rates of precious metals?

Global demand for gold and silver dictates the overall supply and demand dynamics, ultimately impacting the prices of these precious metals in the international and domestic markets.