Gold Prices Plummet on Weak Domestic Demand Amidst Federal Reserve Rate Hike
Gold prices plummeted by Rs 600 to Rs 1.55 lakh per 10 grams in India's national capital on Thursday, September 18, 2026, due to weak domestic demand.
The price of the yellow metal had closed at Rs 1,55,600 per 10 grams the previous day.
Despite a steady silver market, with prices holding at Rs 2.42 lakh per kilogram inclusive of all taxes, gold continued its downward trend.
'Gold edged lower on Thursday, tracking overnight weakness in international markets after the Federal Reserve delivered a hawkish policy message,' said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.
The US Federal Reserve raised its benchmark interest rate by 25 basis points to 3.75-4 per cent, as widely expected, marking its first-rate increase in three years.