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Gold price today: Here’s how much you pay for yellow metal in Delhi, Mumbai, other cities

Gold and silver prices across India on Sunday are unchanged compared to the previous day’s figures. The 10-gram gold in 24 carat is available at 50,130, while 22 carat in the same gram stood at 45,950. Last week, gold and silver futures witnessed volatility tracking global prices ahead of the Federal Reserve meeting that will be pivotal for giving further clarity on economic prospects. Gold is seen as a safe haven for hedging returns against macroeconomic risks.

In 22 carat, 10-gram gold is available at 45,950, while 100 gram is priced at 4,59,500. The price is 4,595 and 36,760 in 1 and 8 gram today.

Further, in 24 carat, the price of 10 gram gold is at 50,130, 100 gram at 5,01,300, 1 gram at 5,013 and 8 gram is available at 40,104, as per GoodReturns which updates gold price on a daily basis sourced from reputed jewelers across the country.

Among major cities, 24 carat gold in 10 gram is highest at 50,620 in Chennai, Coimbatore, and Madurai. While the price is 50,280 in cities like Delhi, Jaipur, Chandigarh, and Lucknow. The price is 50,180 in cities like Bangalore, Ahmedabad, Surat, Mangalore, and Mysore. In cities like Nashik, Nagpur, Patna, Pune, and Vadodara, the price is 50,160. Further, in ciities like Mumbai, Kolkata, Hyderabad, Kerala, Vijaywada, Bhubaneswar, and Vishakhapatnam — the price of 10-gram gold in 24 carat is 50,130.

Meanwhile, 1 kg of silver is priced at 56,700 unchanged from the previous day. The price is 5,670 for 100 gram, 567 for 10 gram, 453.60 for 10 gram, and 56.70 for 1 gram.

On Friday, at MCX, gold futures for October 5 maturity edged higher by 22 to 49,334, and silver futures for December 5 maturity settled at 56,729 climbing by 312 or 0.55%. On the global front, spot gold price climbed by 0.75% and was near $1,675 per ounce.

According to a Bloomberg report on Saturday, bullion had hovered above $1,700 an ounce for most of September but plummeted Thursday after breaking through technical support that has held since 2020. US data pointed to robust retail sales and a strong labor market, raising expectations of more aggressive action by the Fed as it tries to cool inflation.

In its commodity report dated September 16, Yes Securities on Gold October futures said, “weakness may stretch lower towards the downside objective of 48,600 or even lower. Even in this bearish sentiment, recovery trades above 49,600 levels.”

On silver December futures, the brokerage report said, as long as prices remain above the downside hurdle of 54,400 regions, there is a possibility of a rebound higher towards the 59,500-60,000 zone.

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