Gold Rate in India Today: Festive Demand Pushes 24K, 22K, 18K Gold Prices to Record High
Gold has always been an emotional investment for Indians. Be it a wedding, festival or savings plan – gold is a part of every household. Today, Gold Rate in India Today has become such a news that every person has to follow closely. The reason is simple – gold prices have been on a continuous rally for the last two weeks and today they have touched new records.
Gold Rate in India Today: Prices Pause After Rally
According to the fresh update of September 7, Gold Rate in India Today is stable at a record high. In the last 14 days, the price of the yellow metal has increased by about 8%. The festive season demand has pushed gold rates even higher. Before the big festivals like Navratri, Dhanteras and Diwali, 22K gold has already reached almost Rs. 1 lakh per 10 grams.
Due to this sharp demand, analysts also believe that the upward journey of gold can continue further.
International Gold Rate Impact on India
The global market also directly influences India’s gold rates. Currently, international spot gold is trading near $3600 per ounce, which is a new all-time high. In the previous session, it had touched $3,599.89.
Both domestic and global factors together are taking gold prices to new levels.
Today’s Gold Prices in India
The breakdown of Gold Rate in India today on September 7 is something like this:
24K gold is stable at Rs. 108,490 per 10 grams. The price of 22K gold has reached Rs. 99,450 per 10 grams. If you talk about 18K gold, it is still Rs. 81,370 per 10 grams.
Rates are going to shock even for large quantities. The price of 100 grams of 22K gold is Rs. 994,500, while 100 grams of 24K gold is now Rs. Gold is currently selling at Rs 1,084,900.
Market Outlook for Gold Prices in India
According to the latest report of ICICI Commodity, Gold Rate in India can rise further today. Spot gold can go up to $3580 level due to weak dollar and softening of U.S. Treasury yields. Also, weak U.S. job data has further strengthened the market’s expectation that the Fed will cut interest rates in the next meeting.
According to the CME FedWatch tool, the market is now pricing a 99.4% probability that the next rate cut will be. If this happens, the value of gold can surge even more, as investors will invest more in safe-haven assets.
MCX Gold and Silver Futures
Trading on India’s Multi Commodity Exchange was closed on Sunday. But as per the last update, gold futures maturing on October 3 settled at Rs. 107,740 per 10 grams, a rise of 0.01%. Silver futures, which are maturing on December 5, also showed a slight gain of 0.02% and closed at Rs. 124,716 per kg.
Spot Gold and Silver Prices Today
According to a Reuters report, spot gold rose 1.4% to $3,596.55 per ounce, which is close to the record $3,599.89. U.S. gold futures for December delivery settled 1.3% higher at $3,653.30. Spot silver also rose 0.8% to $40.98 per ounce.
This clearly shows that not only in India, but in the entire global commodity market, the demand for both gold and silver is still at its peak.
City-Wise Gold Rate in India Today
Gold rates are different in every city of India, but due to festive demand, prices are touching record levels everywhere. Be it Delhi, Mumbai, Kolkata or Chennai – buyers are actively purchasing everywhere and the possibility of this trend continuing is strong in the future as well.
Conclusion on Gold Rate in India Today
Today is a special day for those people who prefer gold in their investments. Gold Rate in India Today clearly shows that the demand has already peaked before the festive season and the global market is also supporting this rally. According to analysts, prices may go up even more in the coming months and festivals, so buyers will have to take smart decisions as to when it will be right to invest.
📍 Gold Rate in Delhi Today
The gold rate in Delhi today, Sept 7, remains strong with 24K gold priced at ₹108,490 per 10 grams and 22K gold at ₹99,450 per 10 grams. Festive demand is keeping prices elevated in the capital city.
📍 Gold Rate in Mumbai Today
In Mumbai, the gold price today, Sept 7, stands at ₹108,490 per 10 grams for 24K and ₹99,450 per 10 grams for 22K gold. With festivals like Navratri and Diwali ahead, buyers are rushing to book gold at current levels.
📍 Gold Rate in Chennai Today
Chennai gold rates today, Sept 7, also remain at record highs. 24K gold is available at ₹108,490 per 10 grams, while 22K gold is priced at ₹99,450 per 10 grams. South India’s festive demand continues to fuel the rally.
📍 Gold Rate in Kolkata Today
Kolkata is witnessing a similar trend in gold rates today, Sept 7. The 24K gold rate stands at ₹108,490 per 10 grams, while 22K gold is selling at ₹99,450 per 10 grams. Strong retail buying is driving prices upward.
Disclaimer:
This article is for informational purposes only. The prices and analysis of Gold Rate in India Today given here are based on market trends. Consult your financial advisor before investing.
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