Gold, silver price today, October 1, 2024: Precious metals record hike on MCX

Both gold and silver prices recorded a hike on the Multi Commodity Exchange (MCX) on Monday, October 1, 2024.
Gold futures, maturing on December 5, 2024, stood at Rs 75,645 per 10 grams on the MCX, after recording a jump of Rs 34 or 0.04 per cent. The previous close was recorded at Rs 75,611.
Meanwhile, silver futures, maturing on December 5, 2024, witnessed a marginal hike of Rs 358 or 0.39 per cent and were retailing at Rs 91,077 per kg on the MCX against the previous close of Rs 90,719.
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 were hovering below recent record peaks on Tuesday after the U.S. Federal Reserve chair tempered expectations for more substantial interest rate cuts this year, with investors looking forward to a series of labour data this week for further insights, news agency Reuters reported.
According to the latest metal report, spot gold held its ground at $2,635.58 per ounce by 0335 GMT, while, U.S. gold futures fell 0.1 per cent to $2,657.00.
Among other precious metals, spot silver rose 0.4 per cent to $31.27 per ounce.