Gold Rate Today, Sept 6: Prices Pause Movement In Bangalore, Chennai, Hyderabad Across 24k,22k,18k

Gold price today mirrored yesterday's rates as no change in prices was observed due to drop in demand in the local markets. Due to lack of any major domestic push gold prices on Sunday remained range bound in India.

According to Trading Economics,"Gold fell 2% to around $4,380 an ounce on Friday as the dollar strengthened following stronger-than-expected US employment data, which boosted expectations for tighter monetary policy. US nonfarm payrolls rose by 162,000 in August, following an upwardly revised increase of 23,000 in July and significantly exceeding market expectations for a 56,000 gain."

Gold Rate Today in Bengaluru

On Sunday, gold prices in Bengaluru for 22-carat gold are priced at Rs. 1,41,900 per 10 grams, with 100 grams available at Rs. 14,19,000.

Whereas the 24-carat gold rates in Bengaluru stand at Rs. 1,54,800 per 10 grams, while 100 grams of this premium variant is priced at Rs. 15,48.000.

The more affordable 18-carat gold rate today is currently priced at Rs. 1,16,100 per 10 grams, with 100 grams of the yellow metal available at Rs. 11,61,000.

Gold Rate Today in Chennai

Gold rates today in Chennai are stable at Rs. 1,43,610 per 10 gram for 22 karat. Similarly, the 24k gold rate today is at Rs. 1,56,670 per 10 grams and Rs. 1,21,310 per 10 grams.

Gold Rate Today in Hyderabad

Gold rate in Hyderabad is also at a similar level at Rs.1,54,800 per 24 karat per 10 gram. The 22K gold rate today in Hyderabad is Rs. 1,41,900 per 10 grams.

Silver Rate Today

Silver prices also stayed unchanged compared to yesterday, mirroring the stability seen in gold rates today Currently, the price of 1 kilogram of silver stands at Rs.2,50,000, while 100 grams of silver is priced at Rs. 25,000.

MCX Gold and Silver Futures Update

At the end of Friday's close, Gold futures on the Multi Commodity Exchange (MCX), scheduled for delivery on October 5th ended at Rs.1,52,815 with a marginal rise of 0.03%. Similarly, silver futures, maturing on December 4th have edged lower by 0.07% to Rs. 2,37,500 before closing.

Spot Prices of Gold & Silver Today in the International Market

As noted in a recent report by Reuters, "Spot gold slipped 1.2% to $4,419.09 per ounce by 01:49 p.m, putting it on track for a ​mild weekly decline. After the data, bullion fell more than 2% to an intraday ​low of $4,364.99 per ounce."

As per, ICICI Direct Commodity Outlook, "Spot Gold is expected to hold above $4,400 and extend its rebound toward $4,680 level, driven by a pullback in U.S. dollar and global treasury yields. Furthermore, easing concerns of monetary tightening after dovish comments from Fed members and a pause in crude oil price rally should ease rate hike bets and support bullion prices. As per the CME Fedwatch toll, the probability of a September rate hike dropped to 50% from 63%, further supporting gold. Meanwhile, focus shifts to today's U.S. Non-Farm Payroll data; any sign of moderation in the labor market could spark a further recovery rally in gold prices."

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.