Noida, Sep 29 (APAC Media): Gold and silver prices fell sharply in domestic markets on Tuesday as uncertainty surrounding the US-Iran conflict and the Strait of Hormuz added to concerns over energy prices, inflation and the outlook for interest rates.
On the Multi Commodity Exchange (MCX), gold futures for October 5 were trading at ₹146,513 per 10 grams around 9 am, while silver contracts for December 4 stood at ₹227,390 per kg, according to market data.
In the international market, gold was trading near $4,125 an ounce after declining about 4 per cent in the previous session to a seven-week low. The fall came amid a stronger US dollar, higher bond yields and changing expectations about the path of US interest rates.
The ongoing US-Iran conflict has added another layer of uncertainty to global markets. Investors are closely watching developments around the Strait of Hormuz, a major route for global oil shipments. Any prolonged disruption to energy supplies could keep crude prices elevated and add to inflationary pressures.
Gold & Silver Rates Today — September 29,
| City | 24K Gold / 10g | 22K Gold / 10g | Silver 999 / kg |
|---|---|---|---|
| Mumbai | ₹1,47,010 | ₹1,34,759 | ₹2,27,060 |
| Delhi | ₹1,46,750 | ₹1,34,521 | ₹2,26,670 |
| Chennai | ₹1,47,440 | ₹1,35,153 | ₹2,27,720 |
| Kolkata | ₹1,46,810 | ₹1,34,576 | ₹2,26,760 |
| Bengaluru | ₹1,47,120 | ₹1,34,860 | ₹2,27,240 |
| Hyderabad | ₹1,47,240 | ₹1,34,970 | ₹2,27,420 |
Higher energy costs could also influence expectations about US monetary policy. A stronger dollar and higher interest-rate expectations can weigh on gold because the metal does not generate interest income and becomes relatively less attractive when yields rise.
Retail bullion prices in India varied across major cities on September 29. In Mumbai, 24-karat gold was quoted at ₹147,250 per 10 grams, while 22-karat gold stood at ₹134,979. Silver of 999 purity was priced at ₹225,870 per kg.
In New Delhi, 24K gold was priced at ₹146,990 per 10 grams and 22K gold at ₹134,741. Silver stood at ₹225,490 per kg.
Bengaluru recorded 24K gold at ₹147,360 and 22K gold at ₹135,080 per 10 grams, while silver was quoted at ₹226,050 per kg.
In Kolkata, 24K and 22K gold were priced at ₹147,050 and ₹136,015, respectively, while silver stood at ₹227,850 per kg. Chennai reported 24K gold at ₹147,710, 22K gold at ₹135,401 and silver at ₹226,490 per kg.
Jewellery prices may differ from bullion rates, as GST, making charges and other applicable costs are added to the final purchase price.
–ENDS–
Disclaimer: This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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