1 hr ago
Gold and Silver Rates Decline Across Indian Cities Today
Gold and silver became slightly cheaper in several Indian cities on 4 September.
People can buy gold in different purities, including 24K and 22K.
Twenty-four-karat gold is the purest, while 22-karat gold is often used for jewellery.
Silver prices also went down in the local market.
On MCX, gold and silver futures both traded lower.
In international markets, gold stayed close to $4,477 per ounce.
Investors were waiting for US jobs data to understand what the Federal Reserve might do with interest rates.
Uncertainty linked to US-led economic pressure on Iran also affected market attention.
Retail 24K and 22K gold prices declined marginally across major Indian cities on 4 September.
Silver 999 prices also fell in the domestic bullion market.
MCX gold was down 0.38% at ₹155,610 per 10 grams around 9:13 am.
MCX silver futures declined about 0.59% to ₹240,560 per kilogram.
International gold held near $4,477.10 per ounce as markets awaited US payrolls data and Federal Reserve rate signals.
- Who
- Indian retail gold and silver buyers, traders, the European Union, the United States, Iran, and the Federal Reserve are involved in the market developments.
- What
- Retail gold and silver prices declined marginally across major Indian cities, while international gold held steady.
- Where
- Indian bullion markets, including New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai, as well as international markets.
- When
- Friday, 4 September; MCX prices were reported around 9:13 am.
- Why
- Prices were influenced by uncertainty surrounding US-Iran tensions, changing expectations about US interest rates, and anticipation of US payrolls data.
Key facts
- New Delhi 24K gold
- ₹154,880 per 10 grams
- Mumbai 24K gold
- ₹155,150 per 10 grams
- Kolkata 24K gold
- ₹154,940 per 10 grams
- New Delhi 22K gold
- ₹141,973 per 10 grams
- Mumbai silver 999
- ₹240,160 per kilogram
- MCX gold
- ₹155,610 per 10 grams, down 0.38%
- MCX silver futures
- ₹240,560 per kilogram, down about 0.59%
- International spot gold
- $4,477.10 per ounce as of 0211 GMT
Sources
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