Gold prices moved higher in early trade on Friday, September 12, buoyed by renewed optimism over potential US Federal Reserve rate cuts. Silver joined the rally, touching fresh lifetime highs on the MCX, as safe-haven demand combined with strong industrial appetite.
In Mumbai, the price of 24-carat gold stands at Rs 11,128 per gram, up by Rs 77.1 from yesterday’s Rs 11,050.90. 10 grams is priced at Rs 1,11,280, while 100 grams costs Rs 11,12,280, marking a Rs 771 gain.
For 22-carat gold, prices are at Rs 10,200 per gram, up by Rs 70. A 10-gram purchase costs Rs 1,02,000, and 100 grams is priced at Rs 10,20,000, both reflecting a Rs 7000 gain from the previous day.
In Chennai, the price of 24-carat gold stands at Rs 11,171 per gram, up by Rs 97.90 from yesterday’s Rs 11,073. 10 grams is priced at Rs 1,11,709, while 100 grams costs Rs 11,17,090, marking a Rs 9,790 gain.
For 22-carat gold, prices are at Rs 10,240 per gram, higher by Rs 90 from yesterday’s Rs 10,150. A 10-gram purchase costs Rs 1,02,400, and 100 grams is priced at Rs 10,24,000, both reflecting a Rs 9,000 rise from the previous day.
In Delhi, the price of 24-carat gold stands at Rs 11,143 per gram, up by Rs 77 from yesterday’s Rs 11,066. Ten grams is priced at Rs 1,11,430, while 100 grams costs Rs 11,14,300, marking a Rs 7,700 gain.
For 22-carat gold, prices are at Rs 10,215 per gram, higher by Rs 70 from yesterday’s Rs 10,145. A 10-gram purchase costs Rs 1,02,150, and 100 grams is priced at Rs 10,21,500, both reflecting a Rs 7,000 rise from the previous day.
On the MCX, October gold futures traded at Rs 1,09,485 per 10 grams, up 0.46%, around 9:00 am. Silver December contracts surged 0.91% to Rs 1,28,095 per kg, after briefly touching an all-time high of Rs 1,28,294.
Gold has been running strong and is on track for an eighth straight quarterly gain, which would be its longest winning streak in 13 years.
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Analysts note that gold’s durability makes it an important hedge against global uncertainty. With ETFs seeing unprecedented inflows and the impending festive demand in India, it is expected to be a busy period for bullion in the weeks ahead.