Gold Prices in India Remain Stable Amidst Global Market Volatility
Gold prices in India remained relatively stable on September 10, with minor fluctuations across different purity categories. According to MCX gold trading data, the October contract was reported at ₹1,53,980 per 10 grams around noon, up ₹217 from the previous level. This uptrend comes as investors await fresh US inflation data for clues about the Federal Reserve's next interest-rate decision.
The softer US dollar has provided some support to gold prices, while uncertainty surrounding the Fed's September meeting and geopolitical tensions continue to drive volatility in bullion markets. Spot gold edged up 0.1% to $4,405 an ounce, while US gold futures slipped 0.3% to $4,448.
Cities across India reported varying gold prices due to local market conditions, taxes, transportation costs, and jeweler-level pricing. For example, Delhi quoted ₹1,54,450 per 10 grams for 24K gold, while Mumbai stood at ₹1,54,300. Chennai's rate was slightly higher at ₹1,19,140 per 10 grams for 18K gold.