Gold, silver fall on MCX Thursday as traders book profits
Business
Gold and silver prices took a dip on the Multi Commodity Exchange (MCX) this Thursday, mostly because demand was low and traders were cashing in profits.
Gold futures for October dropped by ₹437 to ₹1.54 lakh per 10gm, while September silver futures slipped ₹836 to ₹2.36 lakh per kg.
Global cues shape gold and silver
Global trends are playing a big role: expectations of lower US interest rates, weaker job data from the US more gold buying in China, and a softer dollar have all pushed gold up recently.
In India, local factors like the rupee-dollar exchange rate and spot demand also matter.
Even with these dips, experts still see gold and silver as solid options for diversifying your investment portfolio (just remember short-term prices can swing with global news).