Gold Price Today, October 7 (Image Source: iStock)
Gold Rates Today: Gold prices fell sharply in the domestic futures market today morning. The decline in the yellow metal rate is due to weak global trends and a stronger dollar. Additionally, a strong US jobs report reduced expectations for a 50 basis point interest rate cut by the U.S. Federal Reserve in November.
The MCX Gold for December contracts was down 0.21 percent, trading at ₹75,980 per 10 grams around 9:10 a.m.
According to Reuters, the U.S. added the most jobs in six months in September, and the unemployment rate dropped to 4.1 percent. This suggests that the U.S. economy is doing well, meaning the Federal Reserve may not need to lower interest rates significantly.
Gold Prices In Major Indian Cities
Here’s a look at the gold rates in various cities across India on October 7:
| City | 22-Karat | 24-Karat |
| Delhi | Rs 7,115 | Rs 7,760 |
| Mumbai | Rs 7,100 | Rs 7,745 |
| Chennai | Rs 7,100 | Rs 7,745 |
| Bangalore | Rs 7,100 | Rs 7,745 |
| Kolkata | Rs 7,100 | Rs 7,745 |
| Hyderabad | Rs 7,100 | Rs 7,745 |
| Ahmedabad | Rs 7,105 | Rs 7,750 |
| Noida | Rs 7,115 | Rs 7,760 |
| Patna | Rs 7,105 | Rs 7,750 |
