Gold Prices in India Decline to ₹1,54,310 per 10 Grams

Gold prices in India declined on Wednesday, September 9, with 24K gold slipping to ₹1,54,310 per 10 grams. This marks a drop of ₹1,040 from Tuesday's national quote of ₹1,55,350.

The decrease is the first significant drop of the week, following two successive sessions of increases and a quiet open on Monday. Despite enduring bullish factors for gold, its price has traditionally been viewed as an effective hedge against inflation, it tumbled despite strong demand at the physical front.

Cities such as Mumbai, Delhi, Kolkata, Bangalore, Hyderabad, Kerala, Pune, Vadodara, and Ahmedabad saw their gold quotes pull back by ₹1,040 for 24K gold, ₹950 for 22K gold, and ₹780 for 18K gold. Chennai, however, saw larger declines across all three purity benchmarks.