Gold and silver rates today, September 16
The 24-carat gold rate in India was Rs 73,690 per 10 grams on September 16. The rate for 24-carat gold per gram is Rs 7,369. The rate of 22-carat gold was Rs 67,549 per 10 grams.
The rate of 24-carat gold has risen by 2.52% in the last one week, and the yellow metal has risen by 2.87% in the last ten days. The silver is currently quoted at Rs 89,130 per kilogram.
Commenting on the gold outlook Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said that Gold prices surged by over Rs 1,650, jumping from Rs 71,450 to Rs 73,100 this week. The rally was primarily driven by expectations of an interest rate cut from the 18th September 2024 meeting, which would signal the end of more than two years of rising rates, dating back to March 2022.
Trivedi also added that support for gold is seen near Rs 71,000-Rs 70,500, while resistance is projected at Rs 74,500-Rs 75,000. A “buy on dip” strategy remains favorable, as long as the Federal Reserve continues to project rate cuts and maintains a dovish stance on future interest rate reductions.
Gold rate in Mumbai on September 16
The glittering metal was quoted for a price of Rs 73,690/10 grams in Mumbai on September 16. On September 13, the price of gold was Rs 73,020/10 grams. Seven days back, on September 08, gold was trading for Rs 71,590/10 grams.
Silver rate in Mumbai on September 16
The shining metal silver was selling for a rate of Rs 89,130/Kg on September 13 in Mumbai. A day ago, the metal was priced at Rs 86,860/Kg and a week ago the price was Rs 82,600/Kg.
Gold rate in Kolkata on September 16
As less than one month is left for the Durga Puja, Gold and silver rates are in focus in Kolkata. In Kolkata, the 24-carat gold rate in Kolkata was trading for Rs 73,590/10 grams, today, September 16. The glittering metal was selling for Rs 72,920/10 grams yesterday and was quoting for Rs 71,950/10 grams last week.
Silver rate in Kolkata on September 16
The silver rate in Kolkata today was Rs 88,880/Kg. The price of silver was Rs 86,740/Kg on September 12. Last week, the price was trading at Rs 82,500/Kg.
Gold rate in Delhi on September 16
Diwali is just two months away and people in North India prefer shopping jewellery and ornaments during winter festivities. On September 16, the gold was trading at a price of Rs 73,560/10 grams. The gold was quoted at Rs 72,890/10 grams yesterday, September 12. While the price of the 999 gold was selling for a price of Rs 71,470/10 grams a week ago.
Silver rate in Delhi on September 16
In Delhi, the silver was priced at Rs 88,860/Kg on September 13. The price of silver was Rs 86,710/Kg on September 12. The price of silver was quoted at Rs 82,450/Kg last week.
Gold rate in Chennai on September 16
The gold rate in Chennai was Rs 73,900/10 grams today, September 16. There was a jump of Rs 670 compared to yesterday when it was quoted for Rs 73,230/10 grams. On September 08 or a week ago, the price of gold was Rs 71,800/10 grams in Chennai.
Silver rate in Chennai on September 16
The silver rate in Chennai today, September 16, is Rs 89,270/Kg. On September 13, the price of silver at Rs 87,110/Kg, which was up Rs 790 from the previous day. The silver in Chennai was available to the customers for a price of Rs 82,850/Kg a week ago.
MCX Futures on September 16
The gold MCX futures contracts with the expiry of October 2024 were quoted for Rs 73510 per 10 gm, an increase of Rs 686. While the futures contracts for silver with the September 2024 expiry on MCX futures were trading at Rs 89,244 per kg, an increase of Rs 2149.