Indian Gold Prices Rise Amid US-Iran Conflict Uncertainty
Gold prices in India's retail market rose on Friday, September 25, amidst ongoing uncertainty over the US-Iran conflict. The US Senate had voted down a resolution calling for an end to the war in Iran the previous day, with the chamber voting 49-50 against the measure. In international markets, gold prices ticked up but were set to post a weekly loss due to a stronger dollar and expectations of higher interest rates.
The rise in gold prices led to a marginal increase in both 24-karat and 22-karat gold rates across major Indian cities. However, silver prices declined in the domestic bullion market. The MCX gold rate on September 25 was trading 0.13% higher at ₹151,780 per 10 grams.
The latest gold prices across major Indian cities on September 25 were as follows: New Delhi (24-karat: ₹151,250/10 gm, 22-karat: ₹138,646/10 gm), Mumbai (24-karat: ₹151,510/10 gm, 22-karat: ₹138,884/10 gm), Bengaluru (24-karat: ₹151,520/10 gm, 22-karat: ₹138,893/10 gm), Kolkata (24-karat: ₹152,570/10 gm, 22-karat: ₹139,856/10 gm), Hyderabad (24-karat: ₹151,200/10 gm, 22-karat: ₹138,600/10 gm), and Chennai (24-karat: ₹151,840/10 gm, 22-karat: ₹139,187/10 gm).