Gold Price Today has fallen sharply, with both gold and silver witnessing significant declines in the latest bullion market update.
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold fell by ₹4,133 to around ₹1.48 lakh per 10 grams on September 28.
Silver also recorded a steep decline of ₹9,297, with the price falling to around ₹2.23 lakh per kilogram.
Gold Price Today in India
The latest rate puts 24-carat gold at ₹1,47,980 per 10 grams.
The price of 22-carat gold is ₹1,35,550 per 10 grams, while 18-carat gold is available at ₹1,10,985 per 10 grams.
City-wise prices can vary slightly depending on local taxes, making charges and other factors.
City Wise Gold Prices
In Delhi, 24-carat gold is priced at ₹15,031 per gram, while 22-carat gold is ₹13,779 per gram.
In Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala and Pune, the 24-carat rate is ₹15,016 per gram, while 22-carat gold is ₹13,764 per gram.
Chennai has a 24-carat rate of ₹14,908 per gram and a 22-carat rate of ₹13,665 per gram.
In Vadodara, 24-carat gold is priced at ₹15,021 per gram and 22-carat gold at ₹13,769 per gram.
Why Gold and Silver Prices Fell
According to a PTI report, Gaurav Garg, head of research at brokerage platform Lemon, attributed the fall in gold and silver prices to pressure from a stronger US dollar.
The report also noted that Brent crude rose 4% to $108.53 per barrel amid renewed tensions involving Iran and concerns over energy supplies through the Strait of Hormuz.
Such developments can influence investor sentiment toward precious metals and other asset classes.
Gold Silver Prices in September
Gold has declined by around ₹8,000 during September, based on the rates mentioned in the report. On August 31, gold was priced at around ₹1.56 lakh per 10 grams, compared with around ₹1.48 lakh now.
Silver has also fallen by around ₹14,000 during the same period. Its price has declined from approximately ₹2.37 lakh per kilogram at the end of August to around ₹2.23 lakh.
The report also linked the recent movement in gold prices to changes in US interest rates.
Higher interest rates can make interest-bearing assets such as government bonds more attractive compared with gold, which does not provide regular interest income.
At the same time, continued economic uncertainty and geopolitical tensions can influence demand for gold as investors look for assets they consider relatively safer during periods of market uncertainty.
Gold and silver prices can change regularly based on global markets, currency movements, interest rates, crude oil prices and investor demand.
