Gold and silver prices fell sharply ahead of the US Federal Reserve’s two-day meeting. Gold dropped by about ₹1,000 per 10 grams in today’s trading, while silver prices fell nearly ₹2,700 per kilogram.
Although gold reached near record highs at the market opening, profit booking caused the prices to dip soon after.
Gold and Silver Prices on MCX
On the Multi Commodity Exchange (MCX), the gold contract expiring on October 3rd fell by ₹976 per 10 grams to ₹1,09,180.
Meanwhile, silver with a contract expiring on December 5th dropped nearly ₹2,700 to ₹1,26,122 per kilogram.
Experts say that changes in the dollar index, updates on the India-US trade talks, and the upcoming FOMC policy decision will keep gold and silver prices volatile this week.
Bullion Market Rates
According to the Indian Bullion Jewellers Association, on Wednesday the price of 24-carat (999 purity) gold in the bullion market was ₹1,09,970 per 10 grams, while 22-carat gold was priced at ₹1,07,330 per 10 grams. Silver traded at ₹1,26,713 per kilogram.
Prices in Major Cities
Delhi: 24-carat bullion gold is ₹1,09,490 per 10 grams, 22-carat gold is ₹1,00,366 per 10 grams.
Mumbai: 24-carat bullion gold is ₹1,09,680 per 10 grams, 22-carat gold is ₹1,00,540 per 10 grams.
Jaipur: 24-carat bullion gold is ₹1,09,670 per 10 grams, 22-carat gold is ₹1,00,531 per 10 grams.
Chennai: 24-carat bullion gold is ₹1,10,000 per 10 grams, 22-carat gold is ₹1,00,833 per 10 grams.
