Two of the most traded precious metals in the country – gold and silver opened a little on the higher side on Friday. While Gold opened up at ₹58,674.00 per 10 grams, silver opened at ₹71,750 per kg on MCX.Gold hit an intraday high of ₹58,724 and low of ₹58,673. For October 5, 2023 delivery, MCX gold was trading at ₹58,800, up 0.36% at 12:00 PM IST. For December 5, 2023 delivery, silver was spotted trading ₹72,250 per 10 grams, up 1.79% around the same time.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₹71160Pune₹59450₹54500₹71160Image Source: MCXAfter 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.
