Gold Prices Fall In India For 3rd Day, Sept 19: Yellow Metal Loses Glitter, Check Latest Gold Price

Gold prices in India declined for 3rd consecutive day after US Federal Reserve slashed interest rates by 50 basis points pushing the Dollar lower. 22k gold prices in India today slipped by Rs 250 to Rs 68,250/10 grams and 100 grams of 22 carat yellow metal prices fell by Rs 2500 to Rs 6,82,500 on Thursday. 24k gold prices today declined by Rs 280 to Rs 74,450/10 grams and 100 grams of 24 carat precious metal prices today fell by Rs 2800 to Rs 7,44,500.

18k gold prices today turned cheaper by Rs 210 to Rs 55,840/10 grams and 100 grams of 18 carat gold price today edged lower by Rs 2100 to Rs 5,58,400.

According to Renisha Chainani, Head Research - Augmont - Gold For All, "gold finally touched the psychological level of the $2600 (~Rs 73750) mark in the active contract as the FED cut interest rates after four years. The Federal Reserve cut its benchmark interest rate by 50 bps to 4.75%-5%, with rates expected to decrease another 50 bps by the end of the year. In the so-called dot plot, Fed members saw rates decreasing to 3.4% in 2025, down from a previous forecast of 4.1%, and 2.9% in 2026, down from a prior forecast of 3.1%."

The Fed's monetary policy statement acknowledged that economic activity is strong, notwithstanding rising unemployment rates. They also stated that, while inflation remains slightly excessive, the Committee has grown more confident that inflation is steadily approaching 2% and believes that the risks to meeting its employment and inflation targets are fairly balanced. After touching the $2600 target, gold prices are expected to see some profit booking and retracement up to $2500 (~Rs 71800) and $2475 (~Rs 71000), added Renisha Chainani.

1 gram gold rate today for 22k gold prices inched lower by Rs 25 to 6,825 and 1 gram gold price today for 24k gold prices dipped by Rs 28 to Rs 7,445. On the other hand, 1 gram gold price today for 18k gold prices declined by Rs 21 to 5,584.

Spot Gold, Spot Silver Prices Today: Spot gold stayed slighted changed at $2,558.00 per ounce, as of 0033 GMT. Bullion surged to a new record high of $2,599.92 on Wednesday before closing lower. US gold futures declined 0.6% to $2,582.70. Spot silver surged 0.5% to $30.20 per ounce, platinum gained 0.1% to $969.45 and palladium shed approximately 1% to $1,051.43, according to Reuters.

Silver Prices Today In India: Silver price in India today remained stable. 1kg silver prices today stood at Rs 91,000. 100 grams silver prices today in India are retailing at Rs 9,100.

22k Gold Price Movement In Last 10-Days In India (1 gram)

22k gold price in India today declined by Rs 25, slipped by Rs 15 on September 18, fell by Rs 15 on September 17, surged by Rs 15 on September 16, jumped by Rs 40 on September 14, rose by Rs 120 on September 13, slipped by Rs 10 on September 12, registered rally of Rs 38 on September 11, and declined by Rs 3 on September 10.

1kg Silver price India movement in last 10-days

Silver price in India today remained neutral, dipped by Rs 1000 on September 18, slipped by Rs 1000 on September 17, soared by Rs 1000 on September 16, zoomed by Rs 2500 on September 14, zoomed by Rs 3000 on September 13, stayed neutral on September 12, zoomed by Rs 500 on September 11, remained unchanged on September 10, and soared by Rs 500 on September 9.

1 Gram of 22k Gold prices In 6 Major Metropolitan Cities Of India On September 19, 2024:

City	22 Carat Gold Price Per Gram
Gold Price Chennai Today	1 gram of 22 carat gold rate is Rs 6,825
Yellow Metal Price Mumbai Today	1 gram of 22 carat gold price is Rs 6,825
Gold Price Delhi Today	1 gram of 22 carat yellow metal price is Rs 6,840
Gold Price Kolkata Today	1 gram of 22 carat of gold price is Rs 6,825
Gold Price Kerala Today	1 gram of 22K gold prices is Rs 6,825
Yellow Metal Price Bangalore Today	1 gram of 22 carat gold rate is Rs 6,825
Gold Prices Hyderabad Today	1 gram of 22 carat gold rate is Rs 6,825

According to Reuters, "Gold surges to all-time highs but bond yields have also jumped higher. A 50 bps is good for gold," said Tai Wong, a New York-based independent metals trader.

"Gold is in a bull market; it is likely to move higher. The velocity of that move will depend on Powell's tone."