Gold and silver price today, 7 Oct: Check retail rates of 24K, 22K gold and 999 silver in Mumbai, Delhi, other cities

Gold and silver prices today, 7 October: Check the latest 24K, 22K gold and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates.

Gold and silver prices: The price of the yellow metal in India's retail market declined on Wednesday, 7 October, amid ongoing geopolitical uncertainty between the US and Iran, as rebounding oil exports through the Strait of Hormuz continue to remain vulnerable to stepped-up Iranian tanker attacks.

Iran has intensified tanker attacks around the Strait of Hormuz, with nearly 20 commercial vessels targeted over the past month, threatening a fragile rebound in Persian Gulf oil exports, as per a CNBC US report.

In the international markets, gold prices slipped on Wednesday. Spot gold eased 0.3% to $4,150.23 per ounce by 0145 GMT. US gold futures edged 0.2% lower to $4,177.60.