Gold Rate Falls by Rs 233, Silver Rate Records a Rise of Rs 384
On June 1, 2023, the price of gold in India saw a fall of Rs 233 per 10 grams as compared to the previous trading day. The closing rate of gold stood at Rs 60,157, which is Rs 44 higher than the morning rate. Silver, on the other hand, recorded a rise of Rs 384 per kg as compared to the previous trading day, with a closing rate of Rs 71,372 per kg.
Gold and Silver Rates in Major Cities
The closing rates of gold and silver in major cities of India are as follows:
– Delhi: Gold – Rs 60,300, Silver – Rs 71,500
– Mumbai: Gold – Rs 59,900, Silver – Rs 71,400
– Kolkata: Gold – Rs 60,800, Silver – Rs 71,600
– Chennai: Gold – Rs 60,500, Silver – Rs 71,800
Gold and Silver Futures Trade on MCX
The futures trade of gold on June 5, 2023, on Multi Commodity Exchange (MCX) is trading at a level of Rs 59,700.00 with a fall of Rs 463.00. The futures trade of silver on July 5, 2023, on MCX is trading at a level of Rs 71,699.00 with a fall of Rs 403.00.
Gold and Silver Rates in International Market
Gold is trading in the US with a gain of $0.92 at the rate of $1,967.47 an ounce, while silver is trading down by $0.06 at the level of $23.50 an ounce.
Gold and Silver All-Time High Rates
Gold is selling cheaper by Rs 1,489 from its all-time high of Rs 61,646 per ten grams, which it made on May 4, 2023. Silver is also trading below its all-time high of Rs 76,464, which it made on the same day.
Conclusion
The retail business of gold in India continues till late evening, but the wholesale business closes in the evening. The price of gold and silver in major cities of India and the futures trade on MCX and international market rates have been discussed. The gold rate has fallen sharply by Rs 233, while the silver rate has recorded a rise of Rs 384.
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