Gold Price in India on 15 September 2023 rises Marginally, Silver Remains Steady

Gold Price in India

Date: September 16, 2023

Gold Price in India on on 15 September 2023

New Delhi: In a slight uptick in the precious metals market, gold price today in India saw a marginal increase today, with 22-karat and 24-karat gold both recording modest gains. Silver prices, on the other hand, remained relatively stable.

Gold Prices:

  • 22K Gold: The price of 22-karat gold per gram rose by INR 20 compared to yesterday’s rates, reaching INR 5,470 per gram.
  • 24K Gold: The price of 24-karat gold per gram increased by INR 22 from yesterday’s prices, reaching INR 5,967 per gram.

The increase in gold prices can be attributed to global economic uncertainties and fluctuating market sentiments.

Silver Prices:

Silver prices maintained their stability, with no significant changes reported. The price of silver per gram remains at INR [current silver rate] per gram.

City-wise Gold Rates:

Gold rates in major Indian cities varied slightly. Here are the rates for both 22K and 24K gold in some key cities:

  • Delhi: 22K – INR 54,850 | 24K – INR 59,820
  • Mumbai: 22K – INR 54,700 | 24K – INR 59,670
  • Chennai: 22K – INR 55,000 | 24K – INR 60,000
  • Kolkata: 22K – INR 54,700 | 24K – INR 59,670
  • Bangalore: 22K – INR 54,700 | 24K – INR 59,670
  • Hyderabad: 22K – INR 54,700 | 24K – INR 59,670

Market Analysis:

The slight increase in gold prices can be attributed to a combination of factors. Firstly, global economic conditions remain uncertain, with ongoing geopolitical tensions and inflationary pressures impacting investor sentiment. Secondly, the fluctuating value of the Indian Rupee against the US Dollar plays a crucial role in determining local gold prices. Lastly, seasonal demand patterns and festivals often influence gold prices in India, with the upcoming festive season likely to drive increased purchasing.

Silver Market:

Silver prices, while stable today, have been showing resilience in recent times. With its dual role as both a precious metal and an industrial commodity, silver remains a popular choice among investors and industrial users alike.

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