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Commodities

MCX Gold, Silver Prices Plummet Amid Lower Demand and US Interest Rate Expectations

Guavy AI Editorial Team
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Gold and silver prices declined on Thursday at the Multi Commodity Exchange (MCX) due to low demand and traders cashing in profits. This downward trend is attributed to the expectation of lower US interest rates, weaker job data from the US, increased gold buying in China, and a softer dollar.

The October gold futures dropped by ₹437 to ₹1.54 lakh per 10gm, while September silver futures slipped ₹836 to ₹2.36 lakh per kg.

Experts still consider gold and silver as solid options for diversifying investment portfolios, despite short-term price fluctuations due to global news.

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