India's Gold Prices Slide on September 11 Amid Festive Season Demand
Gold and silver prices in India remained under pressure on September 11. Gold prices dipped marginally to ₹1,52,770 per 10 gm, while silver prices fell to ₹2,33,600 per kg. The Multi Commodity Exchange (MCX) saw gold futures dip by 0.09% at ₹1,52,200 per 10 gm and silver futures fall 4.24% at around ₹2,33,850 per kg.
The retail market continues to trade mainly in two purities: 24-karat and 22-karat gold. While 24-karat gold is the purest form of the precious metal, 22-karat gold is preferred for jewellery due to its strength and durability.
Gold prices in India are influenced by several factors, including international gold price, exchange rate of the US Dollar, and domestic jewellery demand, especially ahead of the festive season. The top jewellers, Joyalukkas and Malabar Gold & Diamonds, quoted ₹14,255 per gm for 22-karat gold across major Indian states.