India's Gold Prices Remain Steady Amid Global Economic Trends
Gold and silver prices in India remained relatively stable on September 3, with gold trading at ₹1,52,160 per 10 grams for 24-karat purity and ₹1,39,490 for 22-karat purity in major cities. The rates were largely consistent across Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai.
The precious metal prices are influenced by global economic data, US interest rate expectations, and currency movements, which continue to guide the market. Despite these trends, gold loans could become a new consumption engine for India, as only 15% of the country's gold is currently monetized.
Jewellers such as Joyalukkas and Malabar Gold & Diamonds quoted ₹13,935 per gram for 22-karat gold across major states. Tanishq's 22K gold rate stood at ₹14,335 per gram, while its 24-carat gold rate was estimated at ₹15,251 per gram.
The marginal differences in retail prices are attributed to brand-specific pricing policies, procurement costs, and regional market conditions.