Yellow metals record dip, silver trades higher on MCX

After trading on the higher side of the Multi Commodity Exchange (MCX) for the last three days, gold has recorded a dip. Meanwhile, silver was retailing higher on the domestic market on Thursday.

Gold futures, maturing on February 3, 2023, recorded a dip of Rs 39 and 0.07 per cent on the MCX. The rates are retailing at Rs 53,999 per 10 grams.

Meanwhile, silver futures maturing on March 3, 2023, recorded a jump of Rs 113 or 0.12 per cent, and were trading at Rs 66,143 per kg.

Notably, the gold and silver prices in India depend on several factors, including the value of the rupee against the dollar. Global demand also plays a key role in determining the trends observed in the rate of precious metals.