Gold, silver price today, October 7, 2024: Precious metals witness dip on MCX

Both gold and silver prices recorded a dip on the Multi Commodity Exchange (MCX) on Monday, October 7, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 75,935 per 10 grams on the MCX, after recording a dip of Rs 208 or 0.27 per cent. The previous close was recorded at Rs 76,143.
Similarly, silver futures, maturing on December 5, 2024, witnessed a dip of Rs 655 or 0.70 per cent and were retailing at Rs 92,694 per kg on the MCX against the previous close of Rs 93,349.
GOLD, SILVER PRICES IN MAJOR CITIES
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.
GOLD, SILVER PRICES IN INTERNATIONAL MARKET
Gold prices eased on Monday as bets firmed for a smaller U.S. rate cut in November after strong jobs data, while investors awaited inflation data and comments from Federal Reserve officials for further cues, news agency Reuters reported.
According to the latest metal report, spot gold 0.2 per cent to $2,647.49 per ounce by 0432 GMT, while, U.S. gold futures stood unchanged at 0.2 per cent to $2,667.10.
Among other precious metals, spot silver fell 0.2 per cent to $32.11 per ounce.