Gold Price Today: Yellow Metal Sees Sharp Fall Universally

Gold, Silver Price Today, August 9, 2021: Yellow metal prices fell on the MCX, as gold October futures plunged to reach Rs 46,640 per 10 gram.

Yellow metal prices on Monday fell on the MCX as well as in the global markets, as gold October futures plunged by 2.52 per cent to reach Rs 46,640 per 10 gram mainly due to rupee appreciation. Globally too, gold fell by as much as 4.4 per cent to a more than four-month low as robust US jobs data stoked concerns of a sooner-than-expected interest rate hike, which could increase the opportunity cost of holding non-interest bearing bullion. Also silver September futures on the MCX fell by 4.20 per cent to reach Rs 65,000 per kg. On the COMEX, silver prices declined by 4.5 per cent to trade at $24.33 per ounce for the week.