Gold & Silver Prices Sept 26: Gold prices remained stable in the Indian bullion market on Friday, September 26, while silver prices registered a slight rise. In Mumbai today, the price of 24-carat gold was ₹1,14,800 per 10 grams, and the price of 22-carat gold was ₹1,05,300 per 10 grams. Silver prices also reached ₹1,43,000 per kilogram.
Gold was trading marginally higher by 0.06% at ₹1,13,943 per 10 grams in early trade on the MCX. Silver, on the other hand, rose 0.08% to ₹1,36,950 per kilogram in futures trade.
22-carat and 24-carat gold prices in major cities across the country (September 26)
City 22-carat (₹/10 grams) 24-carat (₹/10 grams)
Delhi 1,05,450 1,15,030
Jaipur 1,05,450 1,15,030
Ahmedabad 1,05,350 1,14,430
Pune 1,05,350 1,14,430
Mumbai 1,05,300 1,14,800
Hyderabad 1,05,300 1,14,800
Chennai 1,05,300 1,14,800
Bengaluru 1,05,300 1,14,800
Kolkata 1,05,300 1,14,800
International Market Situation
In the international market, US spot gold fell 0.2% to $3,741.21 per ounce. However, it has gained 1.6% so far this week. US gold futures for December delivery remained steady at $3,771.30 per ounce.
The US dollar index remained at a three-week high, making dollar-denominated metals more expensive for foreign buyers. According to experts, the dollar’s strength could prevent gold prices from reaching $3,800 per ounce.
Furthermore, US President Donald Trump’s announcement of new tariffs on imported goods is expected to limit the decline in gold prices.
Factors Affecting Gold Prices in India
Gold prices in India depend on several factors:
International market rates
Import duties and taxes
The exchange rate between the rupee and the dollar
Gold plays a vital role in Indian culture and economy. Demand increases during festivals and weddings, leading to a rise in prices.
Silver Future: Potential to Reach ₹1.5 Lakh
According to a recent report by Motilal Oswal Financial Services (MOFSL), the price of silver could reach ₹1.5 lakh per kilogram in the next 12 months due to industrial demand, safe haven investments, and a weak dollar.
According to the report, silver has returned approximately 37% on MCX so far this year, outperforming many other investment options. Globally, Comex silver futures are expected to reach $45 per ounce and then $50 per ounce in the next phase of the rally.