Gold and silver prices inched higher in the domestic futures market in early trade on Friday, September 18, as a decline in crude prices relieved inflation pressure. MCX Gold, October 5 expiry, rose Rs 682 to an early high of Rs 1,53,663 per 10 grams as compared to the last closing of Rs 1,52,981. MCX Silver--due to expire on December 4--increased by Rs 2,794 to a high of Rs 2,40,999 per kilogram from last session's closing of Rs 2,38,205.
Last seen, MCX Gold was trading at Rs 1,53,532, up Rs 551 or 0.36 per cent. MCX Silver was quoted at Rs 2,40,600, up Rs 2,395 or 1.01 per cent.
"Bullion prices gained support as falling crude oil prices relieved inflation pressures, driving bond yields lower. China bolstered sentiment by increasing gold reserves while paring U.S. Treasury holdings. Meanwhile, global monetary policies tightened: the Bank of Japan raised its policy rate to 1.25%, and the Federal Reserve signalled potential further hikes," Pinky Yadav, Commodity Fundamental Analyst at Choice Broking.
24k, 22k Gold Rates in India On September 18
Yellow metal prices escalated in the domestic retail market as well. According to bullion.co.in, the 24 karat gold rate today is Rs 1,54,300 per 10 grams, while the 18 karat gold rate today is Rs 1,41,442 per 10 grams.
Meanwhile, the 20-karat gold rate today is Rs 1,28,583. The 18-karat gold rate today is Rs 1,15,725 per 10 grams.
Gold Rates In Key Indian Cities
City | 24k Gold Rate (per 10g) | 22k Gold Rate (per 10g) |
|---|---|---|
Delhi | Rs 1,54,200 | Rs 1,41,350 |
Mumbai | Rs 1,54,470 | Rs 1,41,598 |
Kolkata | Rs 1,54,240 | Rs 1,41,387 |
Chennai | Rs 1,54,890 | Rs 1,41,983 |
Hyderabad | Rs 1,54,690 | Rs 1,41,799 |
Bengaluru | Rs 1,54,570 | Rs 1,41,689 |