MCX Gold, Silver Rates: Gold and Silver rates surged in the domestic futures market on Wednesday after India hiked gold import duty to 15 per cent from earlier 6 per cent. Gold futures, June 5 expiry, skyrocketed over Rs 11,000 to an early high of Rs 1,64,497 per 10 grams as compared to last day's closing of Rs 1,53,442 on Multi Commodity Exchange (MCX). Similarly, Silver futures, July 3 expiry, soared more than Rs 22,300 to a high of Rs 3,01,429 per kilogram against the last closing of Rs 2,79,062 on MCX.
At the time of writing, MCX Gold was trading at Rs 1,62,417, up Rs 8,975 or 5.85 per cent. MCX Silver was quoted at Rs 2,96,278, up Rs 17,216 or 6.17 per cent.
24k, 22k Gold Rates In India
Mirroring the price surge in the futures market, yellow metal prices for all purity levels soared significantly in the domestic retail market as well.
According to bullions.co.in., the 24 karat gold rate today in India is Rs 1,62,740 per 10 grams, while the 22 karat gold rate today is Rs 1,49,178. Meanwhile, the 20 karat gold rate today is Rs 1,35,617 per 10 grams. 18 karat gold rate today is Rs 1,22,055 per 10 grams.
Also Read: Gold Import Duty Hike: Why India Increased Import Duty To 15%, What It Means For End Consumer
Gold Rate Today In Bengaluru, Chennai, Mumbai And Other Cities
New Delhi
24k- Rs 1,62,100
22k- Rs 1,48,592
Mumbai
24k- Rs 1,62,380
22k- Rs 1,48,848
Kolkata
24k- Rs 1,62,160
22k- Rs 1,48,647
Chennai
24k- Rs 1,62,940
22k- Rs 1,49,362
Bangalore
24k- Rs 1,62,510
22k- Rs 1,48,968
Hyderabad
24k- Rs 1,62,730
22k- Rs 1,49,169
Also Read: Gold, Silver Jewellery To Become Costlier As Govt Hikes Import Duty To 15% After PM Modi's Appeal
Gold Rate in the International Market
The precious metal prices did not show much volatility in the international futures market as compared to the surge in prices in the domestic market after the import duty hike was announced. At the time of writing, COMEX Gold was trading at $4,705 per ounce, up $18.30 or 0.39 per cent. COMEX Silver was quoted at $86.57, 1.3 per cent.