9 hrs ago
Gold and Silver Prices Slip Across Indian Retail Markets
Gold and silver prices went down in India on 2 September.
The change happened in shops and on the MCX exchange.
In New Delhi, 10 grams of pure gold cost ₹150,000.
In Mumbai, the same amount cost ₹150,250.
Kolkata had the lowest listed 24-karat gold price among those three cities, at ₹149,840.
Silver prices also fell in the domestic market.
International gold prices dropped to their lowest level in more than three weeks.
The article linked the decline to higher oil prices, the US-Iran conflict, and concerns about US interest rates.
Retail prices for 24-karat and 22-karat gold declined across major Indian cities on Wednesday, 2 September.
New Delhi recorded 24-karat gold at ₹150,000 per 10 grams and 22-karat gold at ₹137,500.
Mumbai’s rates were ₹150,250 for 24-karat and ₹137,729 for 22-karat gold per 10 grams.
Kolkata recorded 24-karat gold at ₹149,840 and 22-karat gold at ₹137,353 per 10 grams.
MCX gold fell 1.07% to ₹150,530 per 10 grams, while silver futures declined 1.26% to about ₹231,830 per kilogram.
- Who
- Indian retail gold and silver markets, MCX traders, and international precious-metals markets were affected; the article also cited US and Iranian military actions.
- What
- 24-karat gold, 22-karat gold, and 999-fine silver prices declined in India, while international gold and MCX contracts also fell.
- Where
- Major Indian cities including New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai, as well as international markets.
- When
- Wednesday, 2 September; MCX figures were reported at around 9:13 am.
- Why
- The article attributed the declines to the escalating US-Iran conflict, rising oil prices, higher US Treasury yields, inflation concerns, and fears of a US Federal Reserve rate hike.
Key facts
- New Delhi 24K gold
- ₹150,000 per 10 grams
- Mumbai 24K gold
- ₹150,250 per 10 grams
- Kolkata 24K gold
- ₹149,840 per 10 grams
- New Delhi 999 silver
- ₹231,010 per kilogram
- MCX gold
- ₹150,530 per 10 grams, down 1.07%
- MCX silver futures
- About ₹231,830 per kilogram, down 1.26%
- International spot gold
- $4,304.01 per ounce, down 0.6% by 0017 GMT
Sources
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