Gold, silver price today, July 7, 2023: Precious metals witness dip on MCX | Check latest rates here

By India Today Business Desk: For the second day in a row, both gold and silver prices recorded a downfall on the Multi Commodity Exchange (MCX) on Friday, July 7, 2023.

Gold futures, maturing on August 4, 2023, stood at Rs 58,389 per 10 grams, after recording a marginal dip of Rs 16 or 0.03 percent. The previous close was recorded at Rs 58,401.

Similarly, silver futures, due on September 5, 2023, witnessed a downfall of Rs 54 or 0.08 percent and were retailing at Rs 70,285 per kg on the MCX against the previous close of Rs 70,324.


CITY GOLD (per 10 grams, 22 carats) SILVER (per kg)
NEW DELHI Rs 54,400 Rs 73,000
MUMBAI Rs 54,250 Rs 73,000
KOLKATA Rs 54,250 Rs 73,000
CHENNAI Rs 54,600 Rs 76,700

The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes.


Gold prices on Friday were on track for a fourth consecutive weekly loss as recent U.S. jobs data and hawkish comments from Federal Reserve policymakers strengthened bets for higher-for-longer interest rates, weighing on non-yielding bullion, news agency Reuters reported.

According to the latest metal report, spot gold was flat at $1,910.20 per ounce by 0240 GMT, but down 0.5 per cent for the week. U.S. gold futures were little changed at $1,916.00.

Among other precious metals, spot silver fell 0.4 per cent to $22.6567 per ounce.

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