Gold rates in India recovered their previous losses and got back on the track of a record rally on September 16, a day before the US Fed policy outcomes. Market is predicting either a 25 bps or 50 bps rate cut from the US Federal Reserve on September 17. A rate cut is usually a key positive for bullion and silver globally. Currently, 10 grams of gold price is nearing Rs 1,12,000 mark in 24 carat, and near Rs 111,000 in 22 carat. Could a rate cut make these new levels a reality for gold?
Currently, 10 grams in 24 carat is at Rs 111,930, a new all-time high. The price surged by Rs 870 on September 16, which was the first day of the Fed meeting. Further, the 100 grams gold rate skyrocketed by a whopping Rs 8,700 to Rs 11,19,300, also a new record performance. Moreover, 8-gram and 1-gram gold rates surged by Rs 696 and Rs 87 to Rs 89,544 and Rs 11,193 respectively.
22 Carat Gold Prices:
Under 22 carat, 10 grams of gold touched a new historic high of Rs 102,600, up by Rs 800 on Tuesday. While the price of 100 grams of gold soared by Rs 8,000 to Rs 1,026,000. Additionally, the 8-gram and 1-gram gold prices zoomed by Rs 640 and Rs 80 to Rs 82,080 and Rs 10,260 respectively.
18 Carat Gold Prices:
Here, 1 gram of gold is up by Rs 66 to Rs 8,395, followed by a Rs 528 surge in 8 grams to Rs 67,160. In the 10 grams, the 18k gold price advanced by Rs 660 to Rs 83,950 and 100 grams of gold jumped by Rs 6,600 to Rs 839,500. These prices are at new highs.
"Gold prices surged to another record high as the US Dollar dropped to its lowest level in seven weeks. With markets largely expecting a rate cut from the Federal Reserve, attention now turns to the size of the cut and Jerome Powell's guidance on future policy moves," said Darshan Desai, CEO - Aspect Bullion & Refinery.
Just like gold, silver rates in India also touched a new lifetime high. The price of 1 kg of silver rose by Rs 1,000 to Rs 134,000. 100 grams and 10 grams silver rates are up by Rs 100 and Rs 10 to Rs 13,400 and Rs 1,340.
MCX Gold Price + MCX Silver Price
After market hours of September 16, the MCX gold price with October 2025 expiry ended marginally down by Rs 41 to Rs 110,138 per 10 grams. At the closing bell, the bullion saw profit-booking because it touched a new all-time high of Rs 110,666 per 10 grams on the same day.
Further, MCX silver price with December 2025 expiry ended at Rs 128,722 per 1 kg, down by Rs 98. This commodity also touched a new all-time high of Rs 130,450 per 1 kg before correcting on September 16.
Gold & Silver Price Outlook:
"A smaller-than-expected cut or hawkish tone could disappoint investors. However, any short-term dip may present a buying opportunity, as lower prices could offer an attractive long-term entry point," said Desai.
Meanwhile, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, "Participants continue to hold long positions with the key drivers being the anticipated dovish Fed stance and ongoing trade deal developments between the U.S., India, and China. Gold remains in a positive range of Rs 1,09,000-Rs 1,12,000 until the Fed's policy decision."
To investors, Mohit Kamboj, Former National President, India Bullion and Jewellers Association (IBJA) and CEO, Aspect Global Ventures said, "Overall, if you are looking for some portfolio stability or safe-haven location, gold is definitely attractive. It's just a matter of timing and having a clear strategy."
In case of silver, Kamboj added, "The current international constraints and logistical considerations already have the market very tight on a global scale - which in India has been exacerbated by import duty and transport and currency depreciation. For an investor, this means that silver represents both a hedge to gold, but also, some exposure to increasing industrial demand. From a business point of view - particularly for jewellers or manufacturers using silver - it is important to keep an eye on short term raw material cost exposures, particularly as price volatility may be more heightened compared to gold. In conclusion, silver at this level has attractive upside, but equally, greater sensitivity to global trade, interest rate levels, and industrial cycles."
Spot Gold Price + Spot Silver Price
Spot Gold prices surged to a fresh record near $3,690 per ounce, as investors weighed stronger-than-expected US economic data and looked ahead to the Federal Reserve's policy decision on Wednesday. August retail sales rose more than anticipated, while import prices posted their largest increase in seven months, defying expectations for a slight decline, as per Trading Economics. Spot Silver steadied around $42.5 per ounce on Tuesday, hovering near 14-year highs.
Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.
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