Following the release of the Union Budget 2023-23 on February 1 (Wednesday) by Finance Minister Nirmala Sitharaman, both gold and silver prices, which had increased on the Multi Commodity Exchange (MCX) the previous day, continued to rise on February 2 as a result of encouraging global cues.
Experts on the commodities markets reported that the price of gold today reached a new high following Budget recommendations to raise the import fee on silver bars, dore, and other items to bring them into line with that on gold and platinum.
At around 10.50 am today, gold futures on the MCX that are due to expire on February 3 increased by 2.03 percent to reach a high of Rs 58,520 per 10 gramme. The price of silver futures, which mature on March 3, 2023, increased by 2.03 percent and was trading at Rs 71,260 per kg on the MCX.
When the market closed on February 1, the prices of gold and silver were Rs 57,885 for a gramme and Rs 69,841 for a kilogramme, respectively.
Kolkata: Rs. 58,470 as opposed to yesterday’s Rs. 57,550
Bengaluru: Rs. 58,510 as opposed to yesterday’s Rs. 57,600
Ahmedabad: Rs. 58,510 as opposed to yesterday’s Rs. 57,600
Today’s silver prices (1 kg) in important Indian cities (February 2, 2023)
Delhi: 74,400 rupees as opposed to 73,300 yesterday.
Chennai: 74,700 rupees as opposed to 74,200 rupees yesterday.
Kolkata: 74,400 rupees as opposed to 73,300 rupees yesterday.
Bangalore: 77,300 rupees as opposed to 76,000 yesterday.
Ahmedabad: 74,400 rupees as opposed to 73,300 yesterday.