The continuous rise in gold prices saw a halt on Thursday, September 25. In the country, gold is now selling at Rs 1,13,120 per 10 grams and silver at Rs 1,33,950 per kilogram. Potential interest rate cuts in the US, geopolitical tensions, and festival demand are the main reasons for this.
Gold Price Today: Amidst the festive season and expectations of potential interest rate cuts in the US, gold prices saw a decline on Thursday, September 25. According to the Indian Bullion Association, gold is selling at Rs 1,13,120 per 10 grams and silver at Rs 1,33,950 per kilogram. A slight dip in the latest gold rates has been recorded in Delhi, Mumbai, Bengaluru, Kolkata, and Chennai, while investor sentiment towards gold remains b.
Reasons for the Drop in Gold Prices
According to market experts, the primary reason for the fall in gold prices is global economic indicators. The Federal Reserve's potential interest rate cuts in the US had increased investor interest in gold, but in recent trading sessions, some technical selling and a ber dollar put pressure on gold prices. Amit Gupta, Senior Research Analyst at Kedia Advisory, stated that risks in the US job market and policy warnings have influenced investor sentiment.
Furthermore, geopolitical tensions and global economic uncertainties continue to be major reasons for fluctuations in gold prices.
Latest Gold Prices in Your City
Today's gold prices in major cities across the country are as follows:
- Delhi: Rs 1,12,720 per 10 grams
- Mumbai: Rs 1,12,910 per 10 grams
- Bengaluru: Rs 1,13,000 per 10 grams
- Kolkata: Rs 1,12,760 per 10 grams
- Chennai: Rs 1,13,240 per 10 grams
Chennai has recorded the highest gold price.
Silver Prices
Today, the price of silver in the country has reached Rs 1,33,950 per kilogram. On Wednesday, silver was priced at Rs 1,34,990 per kilogram. 24-carat gold is purchased for investment purposes, while 22 and 18 carats are used for making jewelry.
Reasons for Increasing Gold Demand
During the festive season, weddings, and auspicious occasions, the demand for gold increases. In India, gold is not just a medium for investment but also a part of tradition and cultural beliefs. Increased demand affects prices.
Furthermore, when inflation rises or the stock market experiences volatility, investors put their money into gold as a safe haven. This is why gold prices exhibit both long-term stability and fluctuations.
Factors Affecting Gold Prices
Most of the gold in India is imported. Customs duties, GST, and other local taxes levied on imports directly impact gold prices. Additionally, changes in global gold prices, the dollar's strength, and international market demand also affect prices.
In the global market, geopolitical tensions, inflation, and investor sentiment play a significant role in causing gold prices to rise or fall.
