On September 24, 2024, gold prices experienced a slight uptick, rising by ₹10 to reach ₹76,310 per 10 grams in Delhi.

This marks the second consecutive day that gold has traded above the ₹76,000 mark, primarily driven by strong local demand and favorable global market trends.

The price of 22K gold is currently pegged at ₹69,960 per kg. In contrast, silver prices saw a minor decline, falling by ₹10 to settle below ₹93,000 per kg due to reduced demand from industrial units and coin makers.

Gold Prices Firm Amid Local Demand

The upward trend in gold prices is attributed to robust local purchasing activity as well as positive trends in international markets.

Spot gold was trading near record highs in global markets, with the price reaching $2,631.45 an ounce in New York.

Meanwhile, futures contracts for December traded higher at $2,655.20 per ounce on the Comex platform.

Analysts believe that recent optimism regarding potential interest rate cuts by the US Federal Reserve has contributed significantly to the increase in gold prices.

Speculation surrounding a potential reduction of up to 100 basis points in interest rates has influenced both the US dollar and bond yields, further supporting gold’s value.

Current Gold Prices Across Major Cities

Here’s a quick look at the gold prices today in some of India’s major cities:

Silver Prices Dip Below ₹93,000

In contrast to gold, silver prices have slipped, trading at ₹92,990 per kg across major cities in India.

The decline in silver prices can be largely attributed to weaker demand from industrial sectors and coin manufacturers.

However, spot silver prices in the global market have shown some recovery, increasing by 1.29% to $31.0795 per ounce.

Current Silver Prices Across Major Cities

Here are the silver prices today in some of India’s major cities:

Weekly Comparison of Gold and Silver Prices

Over the past week, gold and silver prices have shown a positive trajectory, buoyed by strong global trends.

Last week, gold prices were noted at ₹75,050 per 10 grams on Monday but climbed to ₹75,930 by Friday. Similarly, silver gained around ₹2,000, closing at ₹93,000 per kg last Friday.

Here’s a snapshot of the price comparison this week: