Gold and silver are trading on the lower side of the Multi Commodity Exchange (MCX). The precious metals recorded a dip on the MCX on Wednesday.
On Wednesday, gold futures, maturing on April 5, 2023, recorded a dip of Rs 250 and 0.44 per cent on the MCX. The rates are retailing at Rs 56,666 per 10 grams.
Meanwhile, silver futures maturing on March 3, 2023, recorded a downfall of Rs 294 or 0.44 per cent, and were trading at Rs 66,086 per kg.
While gold was trading at Rs 56,750 per 10 grams on the MCX when the market closed on Tuesday, silver was at Rs 66,251 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.