Gold Rate Update: Prices of precious metals turn cheaper, check current rates in your city

Gold Rate Update: The prices of gold and silver both fell on the Multi Commodity Exchange (MCX). Based on specific factors such the excise duty, manufacturing costs, and state taxes, the price of gold differs for different areas of the nation.

GOLD AND SILVER PRICES IN MAJOR CITIES

Gold Rate Update: What’s up on MCX?

After a slight decline of Rs 146 or 0.25 percent, gold futures with a maturity date of August 4, 2023, were trading at Rs 58,651 per 10 grammes. The previous close was Rs 58,782. Similar to gold futures, silver futures, due on September 5, 2023, saw a decline of Rs 231 or 0.32 percent and were retailing at Rs 71,079 per kg on the MCX versus the previous close of Rs 71,310.

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.

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

Gold Rate Update : As per IBJA, these are the prices of gold and silver

The price of gold has decreased today compared to yesterday, according to IBJA. The price of gold has decreased from Rs 58557 per 10 kilos to Rs 58644 per 10 grammes today. The cost of silver, on the other hand, silver is increased from Rs 70800 per kg. to Rs 70815 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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