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<p>Both gold and silver prices experienced a decline on the Multi Commodity Exchange (MCX) on Monday, February 5, 2024.</p>
<p><img decoding=”async” class=”alignnone wp-image-386455″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-today-february-5-2024-saw-a-decline-in-the-price-of-gold-and-silver-on-the-mcx-gol.jpg” alt=”theindiaprint.com today february 5 2024 saw a decline in the price of gold and silver on the mcx gol” width=”1078″ height=”606″ title=”Today, February 5, 2024, saw a decline in the price of gold and silver on the MCX 6″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-today-february-5-2024-saw-a-decline-in-the-price-of-gold-and-silver-on-the-mcx-gol.jpg 690w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-today-february-5-2024-saw-a-decline-in-the-price-of-gold-and-silver-on-the-mcx-gol-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-today-february-5-2024-saw-a-decline-in-the-price-of-gold-and-silver-on-the-mcx-gol-150×84.jpg 150w” sizes=”(max-width: 1078px) 100vw, 1078px” /></p>
<p>The gold futures, maturing on April 5, 2024, were positioned at Rs 62,525 per 10 grams on the MCX, registering a marginal decrease of Rs 87 or 0.14 percent. The preceding closure was documented at Rs 62,562.</p>
<p>Meanwhile, silver futures, reaching maturity on March 5, 2024, observed a descent of Rs 276 or 0.39 percent and were trading at Rs 71,029 per kilogram on the MCX, in contrast to the previous close of Rs 71,028.</p>
<p><strong>GOLD AND SILVER PRICES IN PROMINENT CITIES</strong></p>
<table>
<thead>
<tr>
<th>CITY</th>
<th>GOLD (per 10 grams, 22 carats)</th>
<th>SILVER (per kg)</th>
</tr>
</thead>
<tbody>
<tr>
<td>NEW DELHI</td>
<td>Rs 58,100</td>
<td>Rs 75,200</td>
</tr>
<tr>
<td>MUMBAI</td>
<td>Rs 57,950</td>
<td>Rs 75,200</td>
</tr>
<tr>
<td>KOLKATA</td>
<td>Rs 57,950</td>
<td>Rs 75,200</td>
</tr>
<tr>
<td>CHENNAI</td>
<td>Rs 58,500</td>
<td>Rs 76,700</td>
</tr>
</tbody>
</table>
<p>The valuation of gold and silver in India is contingent on various factors, including the rupee’s value against the dollar. Global demand also plays a pivotal role in influencing trends observed in the rates of precious metals.</p>
<p><strong>GOLD AND SILVER RATES IN THE INTERNATIONAL MARKET</strong></p>
<p>Gold prices declined on Monday as the dollar and Treasury yields surged following an impressive US jobs report, dashing expectations of imminent interest rate cuts from the Federal Reserve, as reported by the news agency Reuters.</p>
<p>According to the latest metal report, spot gold was down by 0.3 percent at $2,053.50 per ounce by 0420 GMT. US gold futures also witnessed a 0.2 percent decline, reaching $2,049.10 per ounce.</p>
<p>“While gold may face challenges in maintaining its gains, there seems to be no immediate inclination to push it below $2,000. Hence, gold may persist within a fluctuating range at elevated levels,” remarked Matt Simpson, a senior analyst at City Index.</p>
<p>Amid other precious metals, spot silver experienced a 0.4 percent decline, settling at $22.58 per ounce.</p>
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