Gold Price Today 9 May 2023Both gold and silver are trading on the higher side of the Multi Commodity Exchange (MCX) on Tuesday. Check the latest city-wise prices here.
By India Today Business DeskFor the second day in a row, both gold and silver prices are retailing on the higher side of the Multi Commodity Exchange (MCX) on Tuesday, May 9.
Gold futures, maturing on June 5, 2023, stood at Rs 61,111 per 10 grams on the MCX, after recording a hike of Rs 150 or 0.25 per cent.
Similarly, silver futures, maturing on July 5, 2023, also witnessed a jump of Rs 173 or 0.22 per cent and were trading at Rs 77,320 per kg on the MCX.
The prices of gold and silver stood at Rs 60,927 per 10 grams and Rs 77,079 per kg respectively when the market closed on May 8.
GOLD, SILVER PRICES IN MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 56,850 | Rs 78,100 |
| MUMBAI | Rs 56,700 | Rs 78,100 |
| KOLKATA | Rs 56,700 | Rs 78,100 |
| CHENNAI | Rs 57,200 | Rs 82,500 |
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 PRICE ON INTERNATIONAL MARKET
Gold prices flitted in a narrow range on Tuesday ahead of U.S. inflation data, which investors will scrutinise for clues on the Federal Reserve’s policy path, news agency Reuters reported.
According to the latest metal report, spot gold was little changed at $2,023.41 per ounce, as of 0232 GMT. Meanwhile, U.S. gold futures were down 0.2 per cent at $2,030.10.
On the other hand, spot silver added 0.2 per cent at $25.61 per ounce.
The U.S. consumer price index (CPI) data is due on Wednesday.
Trace Hane
Emanuel Schmitt
Ryleigh Mante