Gold Prices Steady In India, Sept 26: Why Yellow Metal Prices Are Rising? Sharp Rally In Silver

Gold prices in India today remained steady after touching new all-time peak on Wednesday amid prospects of yet another big rate cut by US Federal Reserve and rising tensions in the Middle East. 18K gold prices today stood at Rs 57,770/ 10 grams and 100 grams of 18 carat precious metal prices are retailing at Rs 5,77,700 after prices stayed unchanged on Thursday. 22k gold prices today in India stayed steady at Rs 70,600/10 grams and 100 grams of 22 carat yellow metal prices stood at Rs 7,06,000.

24k gold prices today in the country stayed neutral at Rs 77,020/10 grams and 100 grams of 24 carat yellow metal prices are quoting at Rs 7,70,200. Silver Prices in India recorded sharpest rally in September today.

On why yellow metal prices continue to maintain upward momentum in India and all across the world, Dr. Renisha Chainani, Head Research - Augmont - Gold For All said, "The gold price continues to trade in a confined range near the all-time peak around $2695 (Rs 76000), with a cushioned downside. Expected Fed rate cuts of 50 basis points in November have weakened the Dollar Index and boosted gold prices. The US Dollar is struggling to maintain its rebound gains due to dovish Federal Reserve predictions, which have supported Gold prices. As a result, Fed Chair Jerome Powell's speech today will be widely watched for new clues regarding the future rate-cut path and to decide the near-term outlook for gold."

Rising tensions in the Middle East and fears about China's economic recovery, despite recent stimulus plans, support the safe-haven precious metal market. After touching the $2650 resistance, gold prices continue their bullish momentum to $2700 (~Rs 76000). Prices are in the overbought zone and we can see a retracement up to $2600 (~Rs 73500) and $2500 (~Rs 71000) anytime soon, added Renisha Chainani.

24k gold price for 1 gram today stood at 7,702 and 1 gram gold rate today for 22k gold price stayed unchanged at Rs 7060. 18k gold prices today remained stable at Rs 5,777.

Spot Gold, Spot Silver Prices Today: Spot gold continued to hold its ground at $2,656.60 per ounce, as of 0021 GMT. Spot silver remained neutral at $31.86 per ounce, platinum surged 0.7% to $995.35 and palladium rose 0.7% to $1,044.72, according to Reuters.

Silver Prices Today In India: Silver price in India today jumped. 1kg silver prices today surged Rs 2200 to Rs 95,000. 100 grams silver prices today rose in India by Rs 220 to Rs 9,500.

22k Gold Price Movement In Last 10-Days In India (1 gram)

22k gold price in India today remained steady, soared by Rs 60 on September 25, rallied by Rs 20 on September 24, jumped by Rs 20 on September 23, steadied on September 22, gained by Rs 75 on September 21, rallied by Rs 60 on September 20, declined by Rs 25 on September 19, fell by Rs 15 on September 18, and fell by Rs 15 on September 17.

1kg Silver price India movement in last 10-days

Silver price in India today jumped by Rs 2200, declined by Rs 100 on September 25, fell by Rs 100 on September 24, stayed unchanged on September 23, remained stable on September 22, rallied by Rs 500 on September 21, jumped by Rs 1500 on September 20, stayed stable on September 19, slipped by Rs 1000 on September 18, and declined by Rs 1000 on September 17.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On September 26, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 7060
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 7060
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 7075
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 7060
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 7060
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 7060
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 7060