Gold Rate Today: Gold and silver prices in India depend on a number of factors, including the value of the rupee against the dollar. Global demand also plays an important role in deciding the rate of the precious metal. Let us tell you that gold prices have been in an uptrend since November, as the weakness in the dollar and the expectation of a slow interest rate hike by the US Federal Reserve have increased the luster of bullion. The prices of gold and silver on the Multi Commodity Exchange (MCX) began lower after selling higher yesterday.
Gold Rate Today in some of the major cities
| CITY | 24 karat GOLD PRICE January 17 (10g) | 24 karat GOLD PRICE January 16 (10g) |
| Delhi | Rs 57,100 | Rs 57,100 |
| Mumbai | Rs 56,950 | Rs 56,950 |
| Chennai | Rs 57,870 | Rs 58,000 |
| Kolkata | Rs 56,950 | Rs 56,950 |
| Bangalore | Rs 57,000 | Rs 57,000 |
| Ahmedabad | Rs 57,000 | Rs 57,000 |
Silver Rate Today in some of the major cities
| CITY | SILVER PRICE January 17 (1kg) | SILVER PRICE January 16 (1kg) |
| Delhi | Rs 72,500 | Rs 72,900 |
| Mumbai | Rs 72,500 | Rs 72,900 |
| Chennai | Rs 75,300 | Rs 75,800 |
| Kolkata | Rs 72,500 | Rs 72,900 |
| Bangalore | Rs 75,300 | Rs 75,800 |
| Ahmedabad | Rs 72,500 | Rs 72,900 |
Gold Rate Today: What’s up on MCX?
On the MCX, Gold futures with a February 3, 2023, maturity recorded a slight decline of Rs 67 or 0.12% and were trading at Rs 56,521 per 10 grammes on the MCX. Similar to how gold futures declined, silver futures with a March 3, 2023, maturity fell by Rs 227 or 0.33 percent and were trading at Rs 69,686 per kg on the MCX.
Multi Commodity Exchange of India is the full form of MCX. It is an autonomous body for commodity exchange in India. It offers to trade in bullion, energy and agricultural commodities apart from non-ferrous metals.
This is an exchange for commodities like the BSE is for stocks and shares. The MCX sells the products in bulk.
The price for the asset depends upon various factors and is not determined at MCX. The MCX Silver rates are set by trading activity and a bunch of different other factors.
As per IBJA, these are the prices of gold and silver
The price of gold and silver has decreased today compared to yesterday, according to IBJA. The price of gold has decreased from Rs 56084 per 10 kilos yesterday evening to Rs 56521 per 10 grammes today. The cost of silver, on the other hand, dropped from Rs. 68304 per kg. last evening to Rs. 68686 per kg.
Here’s how to know the latest price of gold by giving a missed call
You can give a missed call on 8955664433 to know the retail rates of gold. Shortly after giving a miss call on this number, you will get the rates through SMS. Along with this, you can see www.ibja.com or ibjarates.com for constant updates or information.
This is how you can determine the purity of gold
If you want to check the purity of gold right now, the government has created an app for that. Customers can check the purity of gold using the BIS Care app. You can use this app to not only check the purity of gold, but also to file a complaint about it.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
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