North India Statesman
Domestic bullion markets witnessed a fresh upward trajectory on September 19, driven by positive momentum in international metal exchanges, fluctuating dollar valuations, and an uptick in pre-festive retail demand across India. The price of 24-carat gold rose by approximately Rs 142 per gram, taking standard 24K retail prices to around Rs 15,584 per gram (Rs 1,55,840 per 10 grams). Concurrently, 22-carat jewellery-grade gold saw an increase of roughly Rs 130 per gram to settle near Rs 14,285 per gram (Rs 1,42,850 per 10 grams), while 18-carat gold hovered around Rs 11,688 per gram.
Factors Fueling the Bullion Rally
Market analysts attributed the latest surge in yellow metal prices to a confluence of global and domestic developments. Spot gold in international markets firmed up amid shifting expectations surrounding the US Federal Reserve’s monetary stance, softening US Treasury yields, and intermittent crude oil price adjustments. On the domestic front, elevated speculative positioning on the Multi Commodity Exchange (MCX) and sustained physical buying by jewellers in anticipation of the upcoming Navratri and Diwali festive season provided strong price support.
City-Wise Gold Rates on September 19 (Per 10 Grams)
Local market prices vary marginally across states due to state-specific levies, local transportation costs, and bullion association benchmarks. Below is the city-wise rate card for 10 grams of 24K, 22K, and 18K gold:
| City | 24-Carat Gold (10g) | 22-Carat Gold (10g) | 18-Carat Gold (10g) |
| Delhi | Rs 1,55,990 | Rs 1,43,000 | Rs 1,17,030 |
| Mumbai | Rs 1,55,840 | Rs 1,42,850 | Rs 1,16,880 |
| Kolkata | Rs 1,55,840 | Rs 1,42,850 | Rs 1,16,880 |
| Chennai | Rs 1,55,840 | Rs 1,42,850 | Rs 1,20,550 |
| Lucknow | Rs 1,55,990 | Rs 1,43,000 | Rs 1,17,030 |
| Bengaluru | Rs 1,55,840 | Rs 1,42,850 | Rs 1,16,880 |
| Hyderabad | Rs 1,55,840 | Rs 1,42,850 | Rs 1,16,880 |
| Ahmedabad | Rs 1,55,890 | Rs 1,42,900 | Rs 1,16,930 |
| Patna | Rs 1,55,890 | Rs 1,42,900 | Rs 1,16,930 |
| Chandigarh | Rs 1,55,990 | Rs 1,43,000 | Rs 1,17,030 |
Silver Rates and Market Outlook for Retail Buyers
Silver prices also reflected the bullish sentiment in the precious metals space, holding steady at approximately Rs 2,55,000 per kilogram across major metropolitan centers including Delhi, Mumbai, and Kolkata. Industry experts advise consumers and retail jewellery buyers to verify the mandatory BIS hallmark and 6-digit HUID (Hallmark Unique Identification) code stamped on jewellery items before finalizing retail purchases. Given the ongoing volatility in global currency and commodity markets, retail prices are expected to remain sensitive to international spot fluctuations and domestic wedding demand in the coming weeks.
