Gold and silver price today, September 7: Check rates of 24K, 22K gold in Delhi, Mumbai, Kolkata other…

The latest market report highlights that Gold prices held just above $4461 per ounce on Sept. 7 after a volatile week, while silver traded 0.09 percent to $66.81 per ounce.

A stronger-than-anticipated US jobs report has pushed expectations for a September Fed interest-rate gain elevated. The US economy further noted 162,000 jobs in August, nearly three times the 56,000 anticipated, while unemployment remained at 4.1 percent. Markets are now pricing in roughly a 57 percent chance of a September interest-rate gain.

The domestic MCX gold futures for the October contract declined 0.21 percent to Rs 1,52,440 per 10 grams, and silver futures for the December contract edged 0.23 percent softer to Rs 2,37,100 per kilogram from its previous close. Spot gold was pegged at Rs 1,54,425 per 10 grams in the evening session.

Here's how gold prices of 24 Karat, 22 Karat, and 18 Karat purity moved during the past 24 hours.

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Gold prices vary among cities. Here’s how the price of 10 grams of gold moved in your city.

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Rajeev Sharan, Head of Research at Brickwork Ratings, stated, "Gold prices are likely to stay under pressure over the next two weeks. Healthy FCNR(B) deposit inflows have helped the indian rupee stay firm, and a stronger indian rupee usually keeps local gold prices in check even when global prices hold steady."

"The bigger factor is the US The US central bank, which will announce its rate decision on September 16. Any hike, or even a hawkish hold, would lift US Treasury yields and pull money toward these safer, elevated-paying bonds, making gold less attractive since it pays no interest. So, we expect gold to stay soft, though a softer signal from the Fed could quickly turn things around," Sharan stated.