Indian Gold Prices Fall 0.24% Amid International Market Pressure
Gold and silver prices in India continued to decline on September 24. The precious metals saw a decrease of 0.24% and 0.53%, respectively, on the Multi Commodity Exchange (MCX). Gold prices stood at ₹1,51,720 per 10 gm, while silver costs ₹2,34,820 per kg.
The retail market for gold is dominated by two purities: 24-karat and 22-karat. The latter is preferred for jewellery due to its strength and durability. Gold prices in India are influenced by several factors, including international gold prices, the exchange rate of the US Dollar, and domestic jewellery demand.
Jewellery retailers such as Joyalukkas and Malabar Gold & Diamonds quoted ₹14,135 per gm for 22-karat gold across major Indian states. Tanishq's 22K gold rate stood at ₹14,180 per gm.