Gold futures drop Rs 541/10 gram in domestic market

Following the negative signals from overseas, both gold and silver prices on October 10 witnessed a fall on the Multi Commodity Exchange (MCX).

With a dip of Rs 541 or 1.04 per cent, the gold futures, maturing on December 5, 2022, stood at Rs 51, 685 per 10 grams on the domestic market.

Similarly, silver December futures were trading at Rs 59,454 per kg with a fall of 2.19 per cent i.e. Rs 1331.

Notably, in the last trading session, gold December futures had closed at Rs 51,960 per 10 grams while silver December futures had closed at Rs 60,785 per kg.

It is worth mentioning that foreign markets have witnessed a fall in the prices of gold and silver. In the foreign market, spot gold is down 0.38 percent, or $ 6.49, at $ 1688.40 an ounce. 

On the other hand, silver has declined 2.00 per cent as it fell down 0.41 per cent at $19.73 an ounce.

The prices of gold and silver in India depend on several factors, such as the value of the rupee against the dollar.