Gold Rate Update: On May 22, 2023, the Multi Commodity Exchange (MCX) retail prices for gold and silver are both on the lower side. The price of 10 grammes of gold in gold futures with a maturity date of June 5, 2023, was Rs 60,245 after registering a slight increase of Rs 134 or 0.22 percent. It was Rs. 60,379 for the previous close.
On the MCX, silver futures with a delivery date of July 5, 2023, fell by Rs 568 (0.83 percent) and were trading at Rs 72,652 per kg, down from the previous close of Rs 73,321.
GOLD AND SILVER PRICES IN MAJOR CITIES
The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes.
| CITY | GOLD (per 10 grams, 22 carats) | SILVER (per kg) |
| NEW DELHI | Rs 56,440 | Rs 75,000 |
| MUMBAI | Rs 56,290 | Rs 75,000 |
| KOLKATA | Rs 56,290 | Rs 75,000 |
| CHENNAI | Rs 56,750 | Rs 78,600 |
Gold Rate Update : What’s up on MCX?
Gold futures with a maturity date of June 5, 2023, were trading at Rs 59,764 per 10 grammes, up just Rs 83 or 0.14 percent. The price of silver futures, which are payable on May 5, 2023, fell by Rs 280, or 0.37 percent, to retail at Rs 75,280 per kg on the MCX, down from the previous closing of Rs 75,472.
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.
Gold Rate Update : As per IBJA, these are the prices of gold and silver
The price of gold has increased today compared to yesterday, according to IBJA. The price of gold has increased from Rs 55121 per 10 kilos yesterday evening to Rs 55286 per 10 grammes today. The cost of silver, on the other hand, silver is increased from Rs. 64407 per kg. to Rs. 64646 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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