Gold and silver prices: The price of the yellow metal in India's retail market declined on Monday, 7 September, amid ongoing uncertainty over the US-Iran conflict.
The US Energy Secretary Wright said on Sunday that the US may not reach an elusive deal to constrain Iran from obtaining a nuclear weapon, as the US-Iran conflict enters its seventh month.
In the international markets, gold prices nudged lower on Monday as strong US jobs data reinforced expectations for higher interest rates, while market participants awaited key US inflation prints due later this week for further clarity on the Federal Reserve’s policy path.
Spot gold was down 0.5% at $4,405.47 per ounce, as of 0211 GMT, after falling 1% on Friday. US gold futures for December delivery were down 0.5% at $4,452.20.
Due to these developments, both 24-karat and 22-karat gold rates are showing a marginal decline across major cities in India. Silver prices also dropped in the domestic bullion market.
MCX gold rate on 7 September was trading 0.28% lower at ₹152,910 per 10 grams. MCX silver futures were trading about 0.14% lower at ₹236,840 per kg at around 9:13 am.
Changes in gold and silver prices today
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it is more durable.
Here's a look at the latest gold prices across major Indian cities on 7 September.
Gold Prices in New Delhi — 7 September
24 karat gold rate in New Delhi — ₹152,370/10 gm
22 karat gold rate in New Delhi — ₹139,673/10 gm
Silver 999 Fine rate in New Delhi — ₹236,000/1 kg
Gold Prices in Mumbai — 7 September
24 karat gold rate in Mumbai — ₹152,640/10 gm
22 karat gold rate in Mumbai — ₹139,920/10 gm
Silver 999 Fine rate in Mumbai — ₹236,410/1 kg
Gold Prices in Bengaluru — 7 September
24 karat gold rate in Bengaluru — ₹152,760/10 gm
22 karat gold rate in Bengaluru — ₹140,030/10 gm
Silver 999 Fine rate in Bengaluru — ₹236,590/1 kg
Gold Prices in Kolkata — 7 September
24 karat gold rate in Kolkata — ₹152,420/10 gm
22 karat gold rate in Kolkata — ₹139,718/10 gm
Silver 999 Fine rate in Kolkata — ₹235,830/1 kg
Gold Prices in Hyderabad — 7 September
24 karat gold rate in Hyderabad — ₹152,860/10 gm
22 karat gold rate in Hyderabad — ₹140,122/10 gm
Silver 999 Fine rate in Hyderabad — ₹236,520/1 kg
Gold Prices in Chennai — 7 September
24 karat gold rate in Chennai — ₹153,060/10 gm
22 karat gold rate in Chennai — ₹140,305/10 gm
Silver 999 Fine rate in Chennai — ₹236,830/1 kg
