Gold Price Today: Gold prices have dropped further; here is where getting jewelry made is cheapest across these 10 cities..

Gold Rate Today in India: Gold prices have lost their sheen for the second consecutive day amidst a surge in crude oil prices. Following a ₹1,200 rise on September 9, the price of 10 grams of 24-carat gold has dropped by ₹1,050 over the last two days; similarly, 22-carat gold—which had become dearer by ₹1,100 on September 8—has seen a price reduction of ₹960 over the same period. As of today, the rates for both 24-carat and 22-carat gold have dipped by ₹10. Meanwhile, silver prices have fallen today due to sluggish industrial demand, following six days of stability; the price of one kilogram of silver has decreased 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               ₹1,54,450               ₹1,41,590                             ₹1,15,870
Mumbai          ₹1,54,300                 ₹1,41,440                           ₹1,15,720
Kolkata            ₹1,54,300               ₹1,41,440                           ₹1,15,720
Chennai           ₹1,54,300               ₹1,41,440                           ₹1,19,140
Bengaluru        ₹1,54,300                ₹1,41,440                          ₹1,15,720
Hyderabad      ₹1,54,300                ₹1,41,440                          ₹1,15,720
Lucknow          ₹1,54,450                ₹1,41,590                          ₹1,15,870
Patna               ₹1,54,350               ₹1,41,490                          ₹1,15,770
Jaipur               ₹1,54,450               ₹1,41,590                           ₹1,15,870
Ahmedabad    ₹1,54,350               ₹1,41,490                             ₹1,15,770

Silver Prices Dip After Six Days of Stability

As for silver, its price has dropped today after remaining stable for six consecutive days. Earlier this month, on September 1 and 2, the price of one kilogram of silver had decreased by ₹5,000 each day, before rising by ₹5,000 on September 3. As for today's rates, the price of one kilogram of silver in Delhi has dropped by ₹100, bringing it to ₹2,49,900. In other major metropolitan cities like Mumbai and Kolkata, it is trading at the same price. However, in Chennai, the price stands at ₹2,54,900, making it the most expensive among the four major metros.

**What the experts say**

Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, notes that gold prices are trading within a limited range as investors exercise caution ahead of the release of US inflation data. He points out that the sustained surge in crude oil prices has raised concerns; it is believed that if crude oil prices remain high for an extended period, inflation will rise. This could also keep interest rates elevated for longer, which would negatively impact gold and silver prices. Gold tends to lose its luster in an environment of rising interest rates.

The US Federal Reserve is set to announce its monetary policy decisions on September 16. US central bank officials have indicated that their current focus is on controlling inflation, though a final decision will be made only after reviewing the August inflation data, which is scheduled for release on September 11.

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