Gold Prices Rebound in India on September 8 Amid Value Buying
Gold and silver prices in India rebounded on September 8 due to value buying after recent dips. According to data from MCX, gold futures contracts rose over Rs 1,300 to a high of Rs 1,54,125 per 10 grams, while silver futures escalated by over Rs 2,700 to a high of Rs 2,41,724 per kilogram.
The uptick in prices was driven by value buying on recent dips, but the precious metals erased most of their early gains amid profit booking. The MCX Gold was trading at Rs 1,53,261, up Rs 443 or 0.29 percent, while MCX Silver was quoted at Rs 2,39,246, up Rs 230 or 0.1 percent.
The 24-karat gold rate in India on September 8 is Rs 1,53,510 per 10 grams, while the 22-karat gold rate today is Rs 1,40,718 per 10 grams. The prices of gold and silver varied across different cities in India, with Delhi seeing a 24-karat gold rate of Rs 1,52,870 and a 22-karat gold rate of Rs 1,40,131.
In contrast to the domestic futures market, gold prices fell in the international futures market. COMEX Gold was trading at $4,448.5, down $28.10 or 0.63 percent, while COMEX Silver was quoted at $66.75.