Gold and silver futures on Monday have risen on the MCX, however, the MCX is closed today on the account of Ganesh Chaturthi.Today, the Gold futures at 11:30 pm were at ₹59,232 up by ₹239 per 10 grams, whereas silver futures expiring in December was at ₹72,585 per kilogram with a gain of ₹431.The price of 22-carat gold and silver on the morning of September 19 was at ₹55,200 per 10 grams and ₹74,800 per kg respectively, according to GoodReturns.StatesGold 24-carat (per 10-grams)Gold 22-carat (per 10 grams)Silver (per kg)Bangalore₹59,450₹54500₹71160Chennai₹59780₹54800₹71160Delhi₹59600₹54650₹71160Kolkata₹59450₹54500₹71160Mumbai₹59450₹54500₹71160After China, India is the worlds second-largest gold consumer. The majority of the required amount of gold is supplied by imports and locally recycled domestic bullion. Therefore, in addition to dollar-denominated worldwide pricing, import taxes and other levies also affect domestic gold rates.Although bond yields and the dollar rate can have an impact on the price of the precious metal, gold is viewed as a hedge against inflation. Here are the most recent gold prices in significant Indian cities.
