Gold Prices Hold Steady in India Amid Festive Demand
Gold prices in India remained steady on September 24, with rates ranging from ₹1,51,100 to ₹1,51,800 per 10 grams of 24-karat gold across major cities. The current prices are influenced by international trends, exchange rates, and domestic demand, particularly ahead of the festive season.
The retail market primarily deals in two purities: 24-karat and 22-karat gold. While 24-karat gold is considered pure, 22-karat gold is preferred for jewelry due to its strength and durability. Leading jewellers like Joyalukkas, Malabar Gold & Diamonds, and Tanishq quote prices ranging from ₹14,135 to ₹15,469 per gram of 22-karat and 24-karat gold.
The slight variations in retail prices are attributed to brand-specific pricing policies, procurement costs, and regional market conditions. Experts like Christopher Wood of Jefferies believe that gold prices could reach $10,000 'sooner or later', with a focus on India's small and midcap stocks.