Gold-Silver Price 16 September 2024 white metal jumps 828 rupees yellow metal also trading higher

In the domestic market, the prices of both the major precious metals, gold and silver, are witnessing a steady rise. The upward trend in the prices of both the precious metals is visible on MCX even today on Monday. The price of silver is witnessing a tremendous rise today.

Gold and silver prices on MCX today

The gold futures contract for delivery on October 4 on MCX is witnessing a rise of about 0.18 percent today. In the futures market, gold was trading at Rs 73,645 per 10 grams in the morning. Similarly, the silver futures contract for delivery on December 5 was also being quoted strongly at Rs 90,008 per kilogram in the initial session. The price of silver has increased by Rs 828 (about 1 percent) on MCX today.

Because of this the prices have increased today

The main reason for the rise in the prices of both precious metals in the domestic market is the strong prices in the foreign market. Foreign signals are being considered mainly responsible for the rise that has been going on since last week. The expectation of the Central Bank Federal Reserve in the US to start cutting interest rates soon has made gold and silver the first choice of investors. Due to this, there is a strong demand for both precious metals in the foreign market, due to which the prices are continuously rising.

Condition of gold and silver in foreign market today

On the Commodity Exchange Center i.e. Comex, gold futures (December 2024 contract) were trading at $ 2,580.81 an ounce with a gain of 0.20 percent. On Friday, the price had reached a record level of $ 2,585.99. Similarly, silver (Silver Comex December 2024 contract) was trading at $ 31.405 an ounce with a gain of 1.07 percent.

The price rose so much in a week

The prices of both gold and silver have seen a tremendous rise since last week. In the last one week, the price of gold has seen a rise of up to Rs 2,000, while the price of silver has risen by Rs 6,400 during this period.

Gold Price Today in major cities:

Bengaluru: Rs 74,880 per 10 grams
Chennai: Rs 74,880 per 10 grams
Delhi: Rs 75,030 per 10 grams
Kolkata: Rs 74,880 per 10 grams
Mumbai: Rs 74,880 per 10 grams

Silver Price Today in major cities:

Chennai: Rs 98,000 per kg
Mumbai: Rs 93,100 per kg
Delhi: Rs 93,000 per kg
Kolkata: Rs 93,000 per kg

Also read: Buy gold and silver jewellery or wait for a few days, decide after knowing the latest prices