Insights from the MCX: Decline in the prices of Gold and Silver observed on April 25, 2024.
Today, on April 25, 2024, a significant event unfolds in the precious metals market as both gold and silver prices experience a notable decline on the Multi Commodity Exchange (MCX).
Gold and silver, prominent commodities in the market, followed a downward trend on Thursday, April 25, 2024, as accurately reflected in their prices on the MCX.
Gold futures, set to mature on June 5, 2024, are valued at Rs 70,757 per 10 grams on the MCX, marking a marginal decrease of Rs 251 or 0.35 percent from the previous day's closing price of Rs 71,050.
In a similar fashion, silver futures, slated to mature on May 3, 2024, declined Rs 293 or 0.36 percent, trading at Rs 81,941 per kilogram on the MCX, compared to the preceding close of Rs 82,234.
GOLD AND SILVER PRICES ACROSS MAJOR CITIES
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 66,400 | Rs 82,500 |
| MUMBAI | Rs 66,250 | Rs 82,500 |
| KOLKATA | Rs 66,250 | Rs 82,500 |
| CHENNAI | Rs 67,100 | Rs 86,000 |
Various factors, such as fluctuations in the rupee-dollar exchange rate and shifts in global demand patterns, have played a significant role in the recent movement of gold and silver prices. These factors, when combined, shape the trajectory of precious metal prices in the Indian market.
