Gold, Silver Prices Today, September 12: Yellow Metal Rises On MCX | Check Rates In Your City
In Mumbai, the price of 24-carat gold stands at Rs 1,11,280 per 10 grams, while 22k gold is available at Rs 1,02,000 per 10 grams.
Gold & Silver Prices Today, September 12: Gold prices saw an appreciation on Friday, supported by persistent expectations of looser US monetary policy, as inflation remained steady in line with forecasts, producer prices unexpectedly fell, and jobless claims hit a four-year peak, highlighting labour market weakness.
In Mumbai, the price of 24-carat gold stood at Rs 1,11,280 per 10 grams, while 22k gold was available at Rs 1,02,000 per 10 grams. Silver was available at Rs 1,32,900 per kg.
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On the MCX, the price of gold rose 0.48% to trade at Rs 1,09,500 per 10 grams, while silver was also up by 1.14% to Rs 1,28,383 per kg in the futures market in the early trade.
Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, “Bullion prices remained firm this morning with gold climbing toward $3,650, approaching its all-time high. Silver saw a sharp rally, crossing $42 in the spot market for the first time since 2011. Both precious metals are on track to post a fourth straight week of gains. The rally was supported by persistent expectations of looser US monetary policy, as inflation remained steady in line with forecasts, producer prices unexpectedly fell, and jobless claims hit a four-year peak, highlighting labour market weakness."
Markets already priced in a 25 basis point Federal Reserve rate cut, with speculation growing over a potential larger reduction. Safe-haven demand was further bolstered by geopolitical uncertainties, including US efforts to push G7 allies to impose higher tariffs on India and China over Russian crude purchases, intensified Middle East conflict, and Poland intercepting Russian drones amid attacks in western Ukraine, he added.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On September 12?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,02,150 | Rs 1,11,430 |
| Jaipur | Rs 1,02,150 | Rs 1,11,430 |
| Ahmedabad | Rs 1,01,360 | Rs 1,11,330 |
| Patna | Rs 1,02,050 | Rs 1,11,330 |
| Mumbai | Rs 1,02,050 | Rs 1,11,280 |
| Hyderabad | Rs 1,02,000 | Rs 1,11,280 |
| Chennai | Rs 1,02,000 | Rs 1,11,280 |
| Bengaluru | Rs 1,02,000 | Rs 1,11,280 |
| Kolkata | Rs 1,02,000 | Rs 1,11,280 |
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
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