Gold prices remained firm on Friday, September 18, while silver continued to trade at elevated levels. Investors were closely watching the latest US Federal Reserve rate decision, movements in the US dollar and changes in crude oil prices, all of which can influence precious metal prices.
Spot gold was trading below $4,350 per ounce during early trading on September 18. US gold futures also edged lower, while softer oil prices provided some support to bullion.
In the Indian market, domestic spot gold closed on Thursday at Rs 1,51,165 per 10 grams, while silver settled at Rs 2,29,230 per kilogram. On the futures market, October gold was trading around Rs 1,53,048 per 10 grams. Silver futures gained 1.45% to reach Rs 2,38,195 per kilogram.
Gold Rates in Major Indian Cities
The latest September 18 morning data shows some variation in gold prices across major cities. The difference is linked to factors such as local taxes, premiums and other market-related charges.
| City | 22K Gold (10g) | 24K Gold (10g) | Silver 999 (1kg) |
|---|---|---|---|
| Delhi | Rs 1,40,406 | Rs 1,53,170 | Rs 2,37,230 |
| Mumbai | Rs 1,40,644 | Rs 1,53,430 | Rs 2,37,640 |
| Kolkata | Rs 1,40,461 | Rs 1,53,230 | Rs 2,37,330 |
| Chennai | Rs 1,41,057 | Rs 1,53,880 | Rs 2,38,330 |
| Bengaluru | Rs 1,40,754 | Rs 1,53,550 | Rs 2,37,830 |
| Hyderabad | Rs 1,40,864 | Rs 1,53,670 | Rs 2,38,020 |
Among the six cities listed, Chennai recorded the highest 24K gold rate at Rs 1,53,880 per 10 grams. Its 22K gold rate was also the highest at Rs 1,41,057 per 10 grams.
The figures are based on the latest data available on the morning of September 18. Prices can change during the day as market conditions shift.
Silver Prices Remain Near Record Levels
Silver also continued to trade at high levels in the domestic market. Silver 999 was priced at Rs 2,37,640 per kilogram in Mumbai and Rs 2,37,230 in Delhi.
Chennai recorded a silver rate of Rs 2,38,330 per kilogram, while Kolkata’s rate stood at Rs 2,37,330. Bengaluru and Hyderabad were at Rs 2,37,830 and Rs 2,38,020 per kilogram, respectively.
Dollar, Fed Policy and Oil Prices in Focus
Global gold prices remain sensitive to movements in the US dollar and Treasury yields, along with expectations surrounding Federal Reserve policy.
In the domestic market, the rupee also weakened against the US dollar. Meanwhile, Brent crude prices eased after recording gains in recent sessions.
Since gold and silver rates can differ from one city or jeweller to another, buyers should check the latest applicable price before purchasing. Local taxes, premiums and other charges can affect the final amount paid by customers.