Gold rates in India finally stopped their super record rally on September 4th, falling by Rs 110 in 10 grams and by Rs 1,100 in 100 grams of 24 carat. These two grams had surged by a whopping Rs 54,600 and Rs 5,460 from August 26th to September 3rd. On September 5th, demand for precious metals will be high due to the celebration of Onam, Eid-e-Milad and Ganesh Chaturthi. Apart from this, U.S. economic data releases, including private payrolls, jobs data and weekly jobless claims, will stir sentiments in gold.
On September 4th, 24 carat gold prices dipped by Rs 1,100 to Rs 10,68,600 and down by Rs 110 to Rs 1,06,860. This is a slight pullback from its record high of Rs 10,69,700 and Rs 1,06,970 respectively.
The latest decline also halted the nine-consecutive days record rally. For instance, 100 grams gold price in 24 carat surged by Rs 8,800 on September 3rd, followed by upside of Rs 2,100 on September 2nd and Rs 9,300 on September 1st. Gold rates were unchanged on August 31st.
But prior to this, 100 grams gold price recorded its one of the biggest single-day surge of Rs 16,400 on August 30th, while the same gold was up by Rs 7,100 on August 29, by Rs 1,600 on August 28, by Rs 3,800 on August 27 and higher by Rs 5,500 on August 26.
That being said, 100 grams gold of 24 carat skyrocketed by whopping Rs 54,600 from August 26th to September 3rd.
Currently, 1kg silver is at Rs 1,27,000, while 100 grams and 10 grams of silver is priced at Rs 12,700 and Rs 1,270 respectively.
Why Invest In Gold During Onam 2025?
As per MMTC-PAMP blog, Onam is a perfect opportunity to think of gold not just as a symbol, but as a smart financial decision. Investment in gold has always been a preferred choice for Indian households, and with good reason.
Explaining in detail, the report said, Gold is seen as a hedge against inflation and economic fluctuations. It's liquid, portable, and universally accepted. During uncertain times, it offers peace of mind and financial stability.
Gold & Silver Prices Outlook:
"The latest JOLTS report revealed a decline in job openings to a 10-month low, highlighting continued labor market weakness. In response, traders almost fully priced in a 25 basis point rate cut, with the CME FedWatch Tool showing a 98% probability of easing at the upcoming policy meeting. Meanwhile, safe haven bids remain elevated as Trump is appealing to the Supreme Court to uphold his import tariffs, while Russia-Ukraine tensions run high," said Kaynat Chainwala, AVP Commodity Research, Kotak Securities.
Also, the analyst added, prices have since recovered to around $3,540/oz, ahead of key U.S. economic data releases, including private payrolls and weekly jobless claims. Most importantly, the official U.S. jobs report due Friday is expected to show a fourth straight month of subdued payroll growth. If the data come in weaker than anticipated, it may boost the case for deeper Fed rate cuts in the coming months.
Furthermore, Darshan Desai, CEO - Aspect Bullion & Refinery said, gold prices are witnessing some profit-taking at higher levels in global markets following a sharp rally, as investors await the crucial U.S. jobs report due on Friday. With markets pricing in a near 100% chance of a rate cut by the FOMC on September 17, gold is expected to find strong support at lower levels.
"On the domestic front, the decision to keep GST rates unchanged on gold and silver offers much-needed clarity for bullion and jewellery traders ahead of the key festive season. This also brings reassurance to potential buyers who may have been holding back in anticipation of further policy updates," Desai added.
MCX Gold Price + MCX Silver Price:
After market hours of September 4th, MCX gold price with October expiry, ended at Rs 1,06,353 per 10 grams, down by Rs 64.
Meanwhile, MCX silver with December 2025 expiry, plunged by Rs 45 to close at RS 1,23,875 Per 1KG.
Spot Gold Price + Spot Silver Price
Gold traded at around $3,550 per ounce on Thursday, remaining close to the record-high of $3,580 touched last session amid expectations of lower interest rates by the Federal Reserve and heightened demand for safety, as per Trading Economics. Silver slipped 1% to around $40.7 per ounce on Thursday, easing from 14-year highs.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
For investment related articles, business news and mutual fund advise
Click it and Unblock the Notifications
Sign in with Google