Gold Rate In India Fell Rs 2,200 In 3 Days: Check 24K, 22K, 18K, Gold Prices Outlook On Sept-16; Fed Meet Eyed

Gold rates in India have halted their record rally party and plunged in the past three days. 10 grams gold price is struggling to maintain the Rs 1,11,000 mark in 24 carat and Rs 101,000 level in 22 carat. Gold prices have also corrected from their four consecutive weekly gains. One of the major reason for gold rally is the expectation of 25 basis point rate cut from US Federal Reserve. On September 16, the two-days FOMC meeting will begin, while outcomes will be announced on September 17.

Gold Rates In India:

10 grams gold price in 24 carat dropped by Rs 110 each on September 15 and September 13, while price was unchanged on September 14. Also, 100 grams gold price declined by Rs 1,100 each on September 15 and September 13, while rates were unchanged. In these three days, 24 carat gold rates in 10 grams and 100 grams has plunged by Rs 220 and Rs 2,200.

In case of 22 carat, 10 grams and 100 grams gold rates tumbled by Rs 200 and Rs 2,000 respectively.

Currently, 24 carat gold rates stood at Rs 1,11,060 in 10 grams and at Rs 11,10,600 in 100 grams. Meanwhile, 22 carat gold rates is at Rs 1,01,800 per 10 grams and at Rs 10,18,000 in 100 grams. Additionally, 18 carat gold rates stood at Rs 84,54o per 10 grams and at Rs 8,45,400 per 100 grams.

Check Gold Prices In Your City:

Silver Rates In India:

Unlike gold, silver prices in India are unchanged since September 14. Silver had surged by Rs 3,100 per 1kg from September 13 to September 12.

Currently, silver is available at record high of Rs 1,33,000 per 1kg, while 100 grams and 10 grams silver stood at Rs 13,300 and Rs 1,330 respectively.

Gold Price Outlook:

US' current economic condition is crucial. The Fed is torn between elevated inflation and downside risk to the labor market, the latter overpowering the upside risk to price stability. At present, Fed rates have stayed at 4.25%-4.50% for a fifth consecutive monetary policies. Fed has not changed rates since December 2024. But the possibility of 50 bps cut is not ruled out.

"Gold traded in a narrow range around $3640 on Comex and Rs 1,09,000 on MCX as participants assess the impact of the Fed's policy decision on Wednesday evening," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

"Markets are pricing in a 0.50bps rate cut along with guidance on the future roadmap, with sentiment leaning towards a dovish outcome. At the same time, this week's U.S. CPI and jobless claims data will add further cues to Fed's stance. Support remains strong at Rs 1,07,500 while extended resistance is seen at Rs 1,11,000," Trivedi added.

MCX Gold Price + MCX Silver Price

Ahead of Fed meeting, MCX gold price futures with October 2025 expiry, stood at Rs 1,10,177 per 10 grams, mildly down.

MCX silver price with September 2025 expiry, however, recovered losses and closed at Rs 1,29,452 per 1kg, up by Rs 23.

Spot Gold Price + Spot Silver Price:

Gold futures reached record levels of $3,680 per ounce on Monday, as a softer US dollar and falling Treasury yields boosted demand for the metal. Markets are bracing for a pivotal Federal Reserve meeting this week, with policymakers widely expected to deliver the first interest rate cut since December - at least 25 bps - on Wednesday, as per Trading Economics. Silver traded above $42 per ounce on Monday, staying close to 14-year highs.

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