Gold Rate Update: A few of the factors that affect gold prices are interest rates, worldwide demand, currency exchange rates and regulatory regulations. Gold is now less expensive on the MCX as of today. It is regarded as a safe investing technique in order to gift jewellery items to your siblings on Rakshabandhan. If the value of the rupee falls in comparison to the US dollar, gold will become more expensive. Bars, coins, bullions, jewellery, exchanges and other types of gold can all be exchanged. Silver and gold both experienced declines in price on the Multi Commodity Exchange (MCX).
Gold Rates in some cities
| Name of cities | 22k Gold | 24k Gold |
| Mumbai | Rs. 54500 | Rs. 59450 |
| Chennai | Rs. 54750 | Rs. 59730 |
| Kolkata | Rs. 54500 | Rs. 59450 |
| Hyderabad | Rs. 54500 | Rs. 59450 |
| Lucknow | Rs. 54650 | Rs. 59600 |
| Patna | Rs. 54550 | Rs. 59500 |
| Bhubaneswar | Rs. 54500 | Rs. 59450 |
| Visakhapatnam | Rs. 54500 | Rs. 59450 |
| Mysore | Rs. 54500 | Rs. 59450 |
Gold Rate Update: Prices on MCX
After registering a slight decline of 0.10 percent, gold futures with a maturity date of August 4, 2023, are trading at Rs 58753 per 10 grammes. In a similar vein, silver futures with a delivery date of September 5, 2023, fell by 0.02 percent and are trading at Rs 73,550 per kg on the MCX. Multi Commodity Exchange of India 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.
You can get the latest prices of gold by giving a missed call
You can call on 8955664433 and leave a missed call to learn the retail price of gold. You will receive the prices by SMS shortly after making a missed call to this number. Additionally, for ongoing updates or information, visit www.ibja.com or ibjarates.com.
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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