Gold, Silver Prices Steady Amid US-Iran Tensions

Gold and silver prices in India have been experiencing volatility this month, following a strong rally in August. The benchmark 24-carat gold price is currently around Rs 1,51,450 per 10 grams, while silver is priced at approximately Rs 2,35,030 per kg. Despite some fluctuations, gold prices remain largely steady on September 26.

The Multi Commodity Exchange (MCX) shows that gold futures are down 0.12% at Rs 1,50,700 per 10 grams, while silver futures are up 0.65% at around Rs 2,35,000 per kg. In the physical market, 24-carat gold is considered the purest form of the metal, making it a popular choice for jewelry.

Gold prices in India are influenced by international bullion prices, the USD/INR exchange rate, and domestic demand. As a result, prices can vary across cities. In Delhi, 24-carat gold is priced at Rs 1,50,910 per 10 grams, while in Mumbai it's at Rs 1,51,170.

SEBI-registered market expert Anuj Gupta believes that although gold and silver are currently volatile, the outlook for both metals remains positive. According to Gupta, silver could reach Rs 3 lakh per kg over the next one year, while gold prices could touch Rs 1.65 lakh per 10 grams around Diwali.