Gold Rate In India Today, Sept 11: 24K, 22K, 18K Yellow Metal Hold Steady After Historic Rally; Silver Slips

Gold prices in India remained stable today, holding at the same levels as the previous session. The upcoming festive season is giving a major boost to the demand for gold and silver jewellery; hence, the prices are rising at a record level. With both 24K & 22K gold rates in India now surging above 1 lakh, buyers are finding it very difficult to make purchases.

"Gold jewellery demand this festival season is likely to remain subdued despite strong cultural sentiment, as record prices of around Rs. 109,500 per 10 gm weigh on consumer appetite. Compared to the same period last year, prices are nearly 20-22% higher, making purchases significantly more expensive. While weddings and festivals will support some essential buying, discretionary demand is expected to weaken. Industry estimates suggest jewellery demand could fall 15-20% in volume terms, as consumers either downsize purchases or shift toward lighter designs. Urban buyers may delay purchases, while rural demand could soften due to affordability pressures amid high prices." said Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Ltd. (RSBL)

Gold prices in India

On 11th September, the 24-carat gold rate in India stood at Rs.1,10,509 per 10 grams and Rs. 11,05,090 per 100 grams of yellow metal.

Similarly, 10 grams of 22k yellow metal are currently priced at Rs.1,01,300 and 100 grams of 24kgold cost Rs. 10,13,000.

Just like the 18-carat gold rates in India today cost Rs. 82,880 per 10 grams, while 100 g costs Rs. 8,28,800.

Silver rates in India today

Silver prices in India fell slightly after a pause yesterday and are currently trading at Rs. 1,29,900 per kg after declining slightly by Rs. 100. While 100g of silver price in india cost Rs. 12,990.

MCX Gold and Silver Futures Update

On the Multi Commodity Exchange (MCX), gold futures, slated to mature on 3rd October, jumped higher, trading at Rs.1,08,600 per 10 grams, after falling 0.35%. Similarly, silver futures, with an expiry date of December 5th, also declined during the trading session. Prices dropped by 0.41% to Rs. 1,24,672 per kg.

International Spot Gold and Silver Prices Update

Requires In its report, it said, "Spot gold was down 0.2% at $3,633.97 per ounce as of 0411 GMT. Bullion hit a record high of $3,673.95 on Tuesday. U.S. gold futures for December delivery fell 0.3% to $3,671.90. Spot silver was down 0.1% at $41.10 per ounce."

Expert Outlook for Gold Prices

"Supply-demand fundamentals remain supportive of global and domestic demand for yellow metal, despite ongoing profit-booking corrections. With several weeks left as participants unveil additional U.S. monetary policy thoughts and ongoing trade developments, 24-karat gold in India remains resilient, trading close to Rs. 109,635 per 10 g.. Moving ahead, the dovish Federal Reserve agenda and overall weak dollar will continue to provide adequate tailwinds to get additional upside." said Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures

Expert Outlook On Silver Prices

"Silver remains on its remarkable rise with continued industrial demand and restricted supply, defending its place in the hearts and minds of investors and manufacturers. In India, silver is trading at about ₹124,594 per kg, showing a strong year-to-date gain and will likely pick up momentum from sectors such as solar and electric vehicles. Silver's performance has even outshined gold, as silver has a dual safe haven and industrial role that has driven demand. Looking ahead, the next milestone to watch for could be ₹1.5 lakh per kg if it continues on its current trajectory."Aksha Kamboj further added.

Check City-Wise Gold Rates Today

Here's the latest city-wise update on 22-carat and 24-carat gold rates on September 11.

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