Gold Price Today: 24-carat gold nears ₹1,54,000; prices fall for the second consecutive day amid pressure from two factors..
Gold Rate Today in India: Gold and silver prices fell today, September 15, due to weak global cues. While turmoil in West Asia drove up crude oil prices, the luster of gold dimmed. Additionally, fears of rapid inflation raised the likelihood that central banks in the US and Japan might hike interest rates; this dampened the appeal of non-yielding assets like gold, putting pressure on prices.
Regarding gold, prices have declined for the second consecutive day following a brief period of stability. Over these two days, the price of 10 grams of 24-carat gold dropped by ₹500, while 22-carat gold fell by ₹460. Today alone, the price of 10 grams of 24-carat gold decreased by ₹10, and 22-carat gold also fell by ₹10. As for silver, prices dropped today after three days of stability, driven by sluggish industrial demand; the price of one kilogram of silver fell by ₹100. City-wise Gold Prices
Let’s find out the price of 10 grams of gold (in 18-carat, 22-carat, and 24-carat purities) across 10 major cities in the country...
City 24-Carat Gold Price (10g) 22-Carat Gold Price (10g) 18-Carat Gold Price (10g)
Delhi ₹1,54,230 ₹1,41,390 ₹1,15,710
Mumbai ₹1,54,080 ₹1,41,240 ₹1,15,560
Kolkata ₹1,54,080 ₹1,41,240 ₹1,15,560
Chennai ₹1,54,080 ₹1,41,240 ₹1,18,940
Bengaluru ₹1,54,080 ₹1,41,240 ₹1,15,560
Hyderabad ₹1,54,080 ₹1,41,240 ₹1,15,560
Lucknow ₹1,54,230 ₹1,41,390 ₹1,15,710
Patna ₹1,54,130 ₹1,41,290 ₹1,15,610
Jaipur ₹1,54,230 ₹1,41,390 ₹1,15,710
Ahmedabad ₹1,54,130 ₹1,41,290 ₹1,15,610
Silver prices dip after three days of stability
As for silver, its shine has dimmed today following three consecutive days of stable prices. Prior to this, the price of one kilogram of silver had dropped by ₹10,000 on September 11. As for today's rates, the price of one kilogram of silver in Delhi has dropped by ₹100, bringing it to ₹2,44,900. It is trading at the same price in other major metros like Mumbai and Kolkata. However, in Chennai, the price for a kilogram of silver stands at ₹2,49,900, making it the most expensive among the four major metropolitan cities.
What do experts say about gold?
Tim Waterer, Chief Market Analyst at KCM Trade, states that the current market environment is unfavorable for gold. According to Waterer, rising energy prices, combined with the growing likelihood of interest rate hikes ahead of meetings by the US Federal Reserve and the Bank of Japan, are exerting pressure on the metal. However, he also notes that buying at lower levels could emerge due to geopolitical tensions and uncertainty surrounding interest rates.
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