Gold prices in India moved higher on Friday after a sharp decline in crude oil prices and bond yields supported demand for the precious metal. The 24-carat gold price increased by up to Rs 15,800 for 100 grams, while 22-carat and 18-carat gold prices gained as much as Rs 14,500 and Rs 11,900, respectively, for the same quantity.
The latest movement has pushed the price of 10 grams of 24-carat gold above Rs 1.54 lakh, while 22-carat gold has crossed Rs 1,41,500. The 18-carat rate is also approaching the Rs 1.16 lakh level.
Gold and silver prices have remained highly volatile throughout the week. Market movements have been influenced by the US Federal Reserve’s interest-rate decision, geopolitical developments in West Asia and changes in crude oil prices, which continue to keep inflationary pressures in focus.
Gold and Silver Recover After Recent Volatility
Vikram Subburaj, CEO of Giottus.com, said Indian bullion futures were recovering after the sharp swings witnessed around the US Federal Reserve’s policy decision.
On the MCX, October gold was trading around Rs 1,53,049 per 10 grams during the early September 19 session, marking a gain of 0.38%. December silver stood at Rs 2,38,220 per kg, up 1.46%.
The recovery in domestic bullion prices has also followed the broader global trend. Spot gold increased 2.3% to $4,360.36 an ounce on September 18, while silver climbed 4.2% to $65.60.
A weaker US dollar and lower US Treasury yields helped support buying in precious metals. However, uncertainty surrounding the broader interest-rate environment continues to keep market volatility elevated.
Subburaj noted that the recent correction in gold and silver has been followed by a strong recovery, although price swings remain significant for investors. The Federal Reserve raised its policy rate to 3.75%-4.00% on September 17, while expectations surrounding another hike remain under focus.
The US 10-year Treasury yield is still close to 5%, while Brent crude remains above $100 a barrel. Changes in these markets could influence the direction of gold and silver prices.
The rupee will also remain an important factor for Indian bullion prices. According to Subburaj, a weaker rupee could provide support to domestic gold and silver prices even if international prices decline, whereas a stronger rupee could restrict gains on the MCX.
Tanishq Gold Rates Today
At Tanishq, the 22-carat gold price stood at Rs 14,200 per gram. The rate for 10 grams was Rs 1,42,000, reflecting a rise of Rs 1,450.
For 100 grams, the 22-carat gold price increased by Rs 14,500 to Rs 14,20,000. The price of 8 grams rose by Rs 1,160 to Rs 1,13,600.
The 24-carat gold rate was Rs 15,491 per gram and Rs 1,54,910 for 10 grams.
For 18-carat gold, the rate stood at Rs 11,618 per gram, while 10 grams was priced at Rs 1,16,180.
IBJA Gold Rates Today
According to the IBJA rates provided:
- 999 purity gold: Rs 15,366 per gram
- 995 purity gold: Rs 15,304 per gram
- 916 purity gold: Rs 14,075 per gram
- 750 purity gold: Rs 11,524 per gram
- 585 purity gold: Rs 8,989 per gram
Gold Rates at Kalyan, Malabar and Joyalukkas
At Kalyan Jewellers, 22-carat gold was priced at Rs 14,240 per gram and Rs 1,42,400 for 10 grams.
At Malabar Gold, the 22-carat rate stood at Rs 14,155 per gram and Rs 1,41,550 for 10 grams. The 24-carat gold price was Rs 15,442 per gram and Rs 1,54,420 for 10 grams.
Joyalukkas also quoted 22-carat gold at Rs 14,155 per gram and Rs 1,41,550 for 10 grams. These rates apply to retail stores in Andhra Pradesh, Delhi, Gujarat, Karnataka, Kerala, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal.
Disclaimer
The views and recommendations mentioned in this article belong solely to the respective analysts or entities and do not represent the views of Goodreturns.in or Greynium Information Technologies Private Limited. The information provided is for general informational and educational purposes and should be independently verified. Readers should consult licensed financial advisers before making investment decisions. No responsibility is accepted for the accuracy, completeness or reliability of the information, and the content should not be considered investment advice or a solicitation to buy or sell securities.