Lok Sabha polls: Domestic Gold, Silver futures subdued; check latest rates in Chennai, Delhi, Mumbai

Gold Silver Price Today June 04 2024: Ahead of the final lok sabha poll results, the domestic precious metals' futures were subdued. The MCX gold futures (Aug 5) were flat with negative bias at Rs 72,166 per 10 gm. Meanwhile, MCX Silver futures (Jul 5) were flat with positive bias at Rs 92,099 per kg.

However, both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Tuesday.

The average price of 10 gram of 22K Gold stood at ₹66,800 while the 24K gold prices stood at ₹72,870.

The rate of 10 grams of 24K gold in Chennai stood at ₹73,580, which was followed by Delhi and Jaipur where the gold costs ₹73,020.

The average price of 1 kg of silver stood at ₹94,000

However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹98,500 followed by Delhi and Mumbai where the metal was sold at ₹94,000

24 Carat Gold Price Today 04 June (per 10gm) - Indian Top Cities

Delhi - ₹73,020
Chennai - ₹73,580
Mumbai - ₹72,870
Kolkata - ₹72, 870
Bengaluru - ₹72,870

1 KG Silver Price Today 04 June - Indian Top Cities

Delhi - ₹94,000
Chennai - ₹98,500
Mumbai - ₹94,000
Kolkata - ₹94,000
Bengaluru - ₹92,000

Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.

Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.