Stories
Gold and Silver Prices Fall Today: Check 22K and 24K Rates Across Major Cities
- •MCX gold for December delivery dropped by Rs 615 to Rs 149,505 per 10 grams, while silver declined by Rs 1,341 to Rs 225,901 per kilogram.
- •In the international market, gold traded lower at $4,170 per ounce and silver fell to $61.195 per ounce.
- •London Bullion Market Association experts estimate that gold could reach $5,013 per troy ounce over the next 12 months.
- •Nationwide 24-carat gold prices ranged from Rs 14,901 to Rs 15,038 per gram, with Delhi recording the highest rate.
- •Market focus remains on the upcoming RBI monetary policy decision and key US economic data.
Key Questions Answered
On October 7, gold for December delivery on the MCX fell by Rs 615 to Rs 149,505 per 10 grams, while silver dropped by Rs 1,341 to Rs 225,901 per kilogram. Internationally, gold traded 0.40 percent lower at $4,170 per ounce and silver traded 0.67 percent lower at $61.195 per ounce.
In Delhi, the price of 24-carat gold is recorded at Rs 15,038 per gram and 22-carat gold is at Rs 13,786 per gram. In Chennai, 24-carat gold is priced at Rs 14,901 per gram and 22-carat gold is priced at Rs 13,659 per gram.
The market is closely watching the RBI's monetary policy decision alongside key US economic data, including the Core PCE Price Index, unemployment data, and Nonfarm Payrolls. Additionally, experts at the London Bullion Market Association (LBMA) annual meeting estimated gold could reach $5,013 per troy ounce over the next 12 months.
