Gold Prices Surge on Fed Tightening Path, US Economic Data

The price of gold remained in focus on September 25 as bullion markets continued to react to US monetary policy developments, economic data, and geopolitical tensions.

Spot gold rose during early trading, while US gold futures and domestic MCX gold also recorded gains. Silver futures edged higher as well.

Gold rates can differ from one city to another in India due to local market conditions, taxes, and other pricing factors. The latest city-wise rates for 24-carat and 22-carat gold, along with 999-purity silver, are:

Gold and Silver Rates in Major Cities

City 24K Gold (10g) 22K Gold (10g) Silver (1kg)

Delhi Rs 1,51,000 Rs 1,38,450 Rs 2,28,900

Mumbai Rs 1,50,870 Rs 1,38,320 Rs 2,28,520

Kolkata Rs 1,51,010 Rs 1,38,320 Rs 2,28,520

Chennai Rs 1,51,420 Rs 1,38,800 Rs 2,34,030

Bengaluru Rs 1,50,610 Rs 1,38,000 Rs 2,28,520

Hyderabad Rs 1,50,610 Rs 1,38,000 Rs 2,28,520

Note that gold and silver rates can change during the day. Jewellery prices may also be higher due to GST, making charges, and other applicable costs.

Ashish Rajodiya, Head of Commodities at PL Capital, commented on the current market situation: 'With the Fed's tightening path now the dominant driver, the next test for gold is whether incoming US data keeps running hot - another strong print would likely open the door to a slide toward the $4,200, while any sign of the labour market cooling, or a fresh escalation out of the Gulf, could quickly bring buyers back in.'