Gold Rate Today: Gold in India has been on a remarkable run for the past two weeks, and as of today, September 8, it has taken a slight pauseyet continues to hover around record highs. The yellow metal has surged nearly 8% recently, reflecting the strong appetite among Indian buyers as the festive season approaches. With Navratri, Dhanteras, and Diwali around the corner, the demand for gold is climbing steadily, and analysts expect prices to remain elevated.
24K, 22K, and 18K Gold Prices Today
In India, the price of 24 carat gold today holds steady at Rs1,08,490 per 10 grams, while 22-carat gold stands at Rs99,450 per 10 grams. For those preferring 18 carat gold, the rate today is Rs81,370 per 10 grams.
For bulk buyers, the cost of 100 grams of 22-carat gold comes in at Rs9,94,500, while the same weight in 24-carat is now Rs10,84,900.
Silver Prices Stay Steady
Silver, often seen as gold’s sibling in precious metals, has not witnessed much movement today. One kilogram of silver is priced at Rs1,28,000, while 100 grams cost Rs12,800.
Global Trends Push Gold Higher
The surge in India’s gold market mirrors global trends. On the international front, spot gold reached a record high of $3,599.89 per ounce, before stabilizing near $3,596.55. U.S. gold futures for December delivery also settled higher at $3,653.30.
Experts note that a weak U.S. dollar, softening Treasury yields, and expectations of a Federal Reserve rate cut have all contributed to this global rally. The CME FedWatch tool even indicates a 99.4% probability of a 25 bps rate cut, further fueling optimism among investors.
Market Outlook for Gold and Silver
Analysts at ICICI Commodity Research suggest that spot gold could climb even higher towards the $3,580-3,600 range, supported by continued demand and central bank policy outlooks. Silver, too, is expected to track gold’s momentum, having already risen 0.8% to $40.98 per ounce globally.
City Wise Gold Rates in India
Gold buyers across India will notice varying rates depending on their city and region, but the overall trend is clear prices remain close to all time highs, making gold both a coveted festive buy and a key investment option this season.
Disclaimer:The information presented here is based on market reports and analyst insights and is meant for educational and informational purposes only. Gold and silver prices are volatile and influenced by multiple factors. Readers are advised to verify rates with authorized jewellers and consult licensed financial advisors before making investment decisions.
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