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Gold prices stayed near record highs on Monday, September 15, 2025, as traders placed bets in advance of a US Federal Reserve rate cut. Gold has posted four successive weeks of positive performance and is now trading near $3640 an ounce, almost 40% higher in 2025.
The rally is fueled by softer US labor data and expectations of a Fed rate cut, which have lowered Treasury yields and weakened the dollar, making gold more attractive.
Analysts say the Fed’s stance will decide whether prices push toward the $5,000 an ounce target or pause after the sharp rally.
The demand remains supported by geopolitical tension, tariff disputes, and central bank buying, but ANZ strategists caution that the easing of trade frictions could also lead to a reduction of safe-haven flows.
International futures are still very high, but compared to the previous session, domestic spot prices in India showed only a slight decline. On the MCX, October gold futures traded at Rs 1,09,330 per 10 grams, down 0.40%.
In Mumbai, the price of 24-carat gold stands at Rs 11,106 per gram, down by Rs 11 from yesterday’s Rs 11,117. Ten grams are priced at Rs 1,11,060, while 100 grams cost Rs 11,10,600, marking a dip of Rs 1,100.
For 22-carat gold, the price is Rs 10,200 per gram, up by Rs 70 from the previous session. A 10-gram purchase now costs Rs 1,02,000, while 100 grams are valued at Rs 10,20,000, both reflecting a gain of Rs 7,000.
In Delhi, the price of 24-carat gold has moved up to Rs 11,129 per gram, down by just Rs 1 compared to yesterday’s Rs 11,130. Ten grams are priced at Rs 1,11,290, while 100 grams cost Rs 11,12,000, recording a decline of Rs 100.
For 22-carat gold, prices are at Rs 10,204 per gram, a decrease of Rs 1 from Rs 10,205 yesterday. A 10-gram purchase costs Rs 1,02,040, while 100 grams are priced at Rs 10,20,400, both showing a decline of Rs 100.
In Bangalore, the price of 24-carat gold stands at Rs 11,106 per gram, down Rs 11 from yesterday’s Rs 11,117. Ten grams are priced at Rs 1,11,060, while 100 grams cost Rs 11,10,600, reflecting a decline of Rs 1,100.
For 22-carat gold, prices are at Rs 10,180 per gram, down by Rs 10 from the earlier Rs 10,190. A 10-gram purchase costs Rs 1,01,800, while 100 grams are valued at Rs 10,18,000, both recording a decline of Rs 1,000 from the previous day.
Also Read: Top Gold Stocks to Hedge Against Market Volatility in 2025
With bullion trading near inflation-adjusted records, investor focus is firmly on the Fed’s decision this week. Any dovish signal could push gold to new highs, while a cautious stance may trigger a temporary correction.
In India, despite slight price moderation, festive demand and sustained central bank buying are expected to keep long-term sentiment positive.
