Gold Prices Steady in India Amid Global Market Volatility

Gold and silver prices in India remained relatively stable on September 15, despite global market pressures. The precious metals market is sensitive to various factors, including US dollar movements, crude oil prices, geopolitical tensions, and expectations surrounding the US Federal Reserve's next policy decision.

The retail rates for gold showed marginal movement across major purity categories. According to the latest data, 24-carat gold is priced at ₹1,54,080 per 10 grams, while 22-carat gold is available at around ₹1,41,240 per 10 grams. The rate for 18-carat gold stands at ₹1,15,560 per 10 grams.

Silver prices were also largely unchanged, with the metal trading at around ₹2,45,000 per kg in the retail market. On the Multi Commodity Exchange, gold futures were trading at around ₹1,51,304 per 10 grams, up 0.05%, while silver futures were around ₹2,32,750 per kg, gaining 0.03%.

The Indian rupee's weakness has made imported gold costlier for Indian buyers, adding to inflation concerns and influencing investor sentiment. The US Federal Reserve's upcoming policy decision is also being closely watched by investors, with markets pricing in a strong possibility of a 25-basis-point rate hike amid hotter-than-expected US inflation.