Gold, Silver Price Sept 19: Gold Prices Drop Yet Again, Silver Down Too

The price of gold has fallen yet again in the national capital. Gold prices declined by Rs 303 to Rs 49,571 per 10 grams in the national capital on Monday amid weak global cues and Rupee appreciation, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 49,874 per 10 grams, according to a PTI report.

Silver also dipped by Rs 197 to Rs 57,090 per kilogram from Rs 57,287 per kg in the previous trade.

When it comes to the prices of yellow metal in India, the price of gold fell by Rs 100 at Rs 45,850 per 10 grams for 22 carat gold while the price of 24 carat gold in India is registered at Rs 50,020 per 10 grams after a decline of Rs 110.

The price of 22 carat gold in Chennai is Rs 46,320 per 10 grams. In Mumbai, the price of 22 carat gold is Rs 45,850 per 10 grams. The price is Rs 45,850 in Kolkata for 22 carat of 10 grams gold.

The prices of gold has been falling since September 13 to September 16, 2022, rose by Rs 150 per 10 grams on September 17, 2022 and fell again today by Rs 100 in India.

The Rupee appreciated 14 paise to 79.64 against the US dollar in early trade on Monday in line with its Asian peers and as the American currency retreated from its elevated levels.

In the international market, gold was quoting lower at USD 1,662 per ounce, while silver was flat at USD 19.28 per ounce, as per PTI report.

"Gold prices extended loses as firm dollar and speculation ahead of US FOMC meet has pinned down investment sentiments on expectations of larger rate hike," Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said.