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Gold Rises Across India While Silver Prices Decline
Gold prices went up a little in Indian shops on 25 September.
Silver prices went down in the domestic market.
Gold is available in different purities, including 24-karat and 22-karat.
Twenty-four-karat gold is described as the purest form.
Twenty-two-karat gold is more commonly used for jewellery because it is stronger.
Kolkata had the highest listed 24-karat gold price among the cities shown.
Hyderabad had the lowest listed silver price among the cities shown.
International gold prices rose slightly during the day but were still lower for the week.
The article linked the market movements to uncertainty about the US-Iran conflict, a stronger dollar and expectations of high US interest rates.
Indian retail prices for 24-karat and 22-karat gold rose marginally on 25 September.
Kolkata reported the highest listed 24-karat gold rate at ₹152,570 per 10 grams.
New Delhi’s retail rates were ₹151,250 for 24-karat and ₹138,646 for 22-karat gold per 10 grams.
Silver 999 prices declined domestically, with rates ranging from ₹232,680 per kilogram in Hyderabad to ₹238,380 in Kolkata.
MCX gold was up 0.13% at ₹151,780 per 10 grams, while MCX silver futures fell about 0.10% to ₹233,810 per kilogram.,
- Who
- Indian retail buyers and sellers of gold and silver, along with participants in international and MCX markets.
- What
- Gold prices rose marginally across listed Indian cities, while domestic silver prices declined on 25 September.
- Where
- Retail markets in New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad and Chennai, as well as international markets.
- When
- 25 September; MCX prices were reported at around 9:13 am.
- Why
- The article cited uncertainty over the US-Iran conflict, a stronger US dollar and expectations that the Federal Reserve would keep interest rates elevated.
Key facts
- Date
- 25 September
- Highest listed 24K gold rate
- Kolkata: ₹152,570 per 10 grams
- Lowest listed 24K gold rate
- Hyderabad: ₹151,200 per 10 grams
- Highest listed silver rate
- Kolkata: ₹238,380 per kilogram
- Lowest listed silver rate
- Hyderabad: ₹232,680 per kilogram
- MCX gold
- ₹151,780 per 10 grams, up 0.13%
- MCX silver futures
- ₹233,810 per kilogram, down about 0.10%
- International spot gold
- Up 0.2% to $4,288.36 per ounce, but down 2% for the week
Sources
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