“MCX Records Surge in Gold and Silver Prices: December 27, 2023”
On Wednesday, December 27, 2023, the Multi Commodity Exchange (MCX) witnessed a consecutive spike in gold and silver prices, marking a significant uptrend in the precious metals market.
Gold futures, set to mature on February 5, 2024, showcased an upward trajectory, reaching Rs 63,260 per 10 grams, reflecting a marginal hike of Rs 206 or 0.33% compared to the previous close of Rs 63,025.
Similarly, silver futures maturing on March 5, 2024, experienced a rise of Rs 156 or 0.21%, retailing at Rs 75,279 per kg on the MCX, as opposed to the previous close of Rs 75,026.
City-wise rates for gold (per 10 grams, 22 carats) and silver (per kg) stood as follows:
New Delhi: Gold – Rs 58,650, Silver – Rs 79,200
Mumbai: Gold – Rs 58,500, Silver – Rs 79,200
Kolkata: Gold – Rs 58,500, Silver – Rs 79,200
Chennai: Gold – Rs 59,000, Silver – Rs 80,700
The fluctuation in India’s gold and silver prices is influenced by various factors, including the rupee’s value against the dollar and global demand dynamics.
The sustained surge in MCX’s gold and silver rates underscores the ongoing market volatility, signaling potential shifts in investment patterns and economic indicators.
