Gold Prices Dip Amid RBI Policy and US Data Anticipation
Gold prices experienced a decline on October 7, 2026, with international spot gold trading 0.53 percent lower at just above $4,142 per ounce. US gold futures also dropped 0.33 percent, nearing $4,173 per ounce. In the domestic market, spot gold closed the previous session at Rs 1,47,756 per 10 grams, while silver was priced at Rs 2,22,505 per kilogram. MCX gold futures for December delivery saw a slight increase of 0.55 percent, reaching Rs 1,50,131 per 10 grams, and silver futures rose to Rs 2,27,365 per kilogram.
The market's attention is now focused on the Reserve Bank of India's monetary policy decision and key US economic data, including the Core PCE Price Index, unemployment data, and Nonfarm Payrolls. These factors could significantly impact expectations regarding the Federal Reserve's monetary policy path.
Gold prices varied across different cities, with detailed movements tracked for 24K, 22K, and 18K purity. Similarly, the price of 1 kilogram of silver with 999 purity was closely monitored. Investors are advised to consult certified experts before making any investment decisions, as the views and tips expressed by experts on Moneycontrol.com are their own and not those of the website.