2 hrs ago
Gold and Silver Prices Rise Across Indian Retail Markets
Gold and silver became slightly more expensive in Indian shops on 22 September.
Gold is sold in two common forms, called 24-karat and 22-karat.
Twenty-four-karat gold is purer, while 22-karat gold is stronger for jewellery.
Silver prices also rose in the domestic market.
On the Multi Commodity Exchange of India, gold and silver futures moved higher.
International gold prices changed very little.
Investors were watching interest-rate expectations and comments from the United States Federal Reserve.
Tensions involving the United States and Iran were also cited as part of the market uncertainty.
Retail prices of 24-karat and 22-karat gold increased marginally across major Indian cities on 22 September.
New Delhi recorded 24-karat gold at ₹153,460 per 10 grams and 999 silver at ₹239,130 per kilogram.
Mumbai had the lowest listed 24-karat gold rate at ₹151,410 per 10 grams.
MCX gold was up 0.20% at ₹154,090 per 10 grams, while silver futures rose 0.29% to ₹240,100 per kilogram.
International gold prices remained nearly flat as investors assessed higher-for-longer interest-rate expectations and awaited Federal Reserve comments.
- Who
- Indian retail bullion markets, investors, and United States officials including Treasury Secretary Scott Bessent.
- What
- Retail prices for 24-karat gold, 22-karat gold, and 999-fine silver rose marginally, while international gold was nearly unchanged.
- Where
- Major Indian cities including New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai, as well as international markets.
- When
- Tuesday, 22 September; MCX prices were reported around 9:13 a.m.
- Why
- Prices were influenced by uncertainty surrounding the United States-Iran situation, expectations of higher interest rates for longer, and investor focus on Federal Reserve policy signals.
Key facts
- Date
- 22 September
- MCX gold
- ₹154,090 per 10 grams, up 0.20%
- MCX silver
- ₹240,100 per kilogram, up 0.29%
- Highest listed 24K rate
- ₹154,170 per 10 grams in Chennai
- Lowest listed 24K rate
- ₹151,410 per 10 grams in Mumbai
- New Delhi silver
- 999-fine silver at ₹239,130 per kilogram
- International spot gold
- $4,344.29 per ounce, little changed
Quotes
Scott Bessent
US Treasury Secretary discussing restrictions on Iranian airlines
“How do we do that? That if they land, you cannot provide them with fuel. You cannot provide them with landing services, you cannot sell them tickets, or you will be knocked out of the dollar system.”
livemint.com
Sources
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