Gold Rate / Gold Price Today: Gold, Silver Rates Fall Sharply On September 29
·1 hour ago·2 min read
Key Points
Gold and silver prices fell sharply in early Tuesday trading as the US-Iran deadlock over the Strait of Hormuz kept energy prices elevated and fuelled expectations of higher US interest rates.
Bhubaneswar, Sep 29: Gold and silver prices fell sharply in the domestic futures market during early trading on Tuesday, September 29, as the deadlock between the US and Iran over the Strait of Hormuz kept energy prices elevated and added to expectations of higher interest rates in the US.
MCX Gold October 5 futures stood at Rs 1,46,513 per 10 grams, while MCX Silver December 4 contracts were trading at Rs 2,27,390 per kg around 9 am. Gold was trading near $4,125 an ounce after falling 4% to a seven-week low.
According to Bloomberg, Iranian officials have privately expressed doubts over reaching an agreement with Washington before the US midterm elections in November. The development came after US President Donald Trump rejected Tehran's latest proposal to reopen the Strait of Hormuz within seven days.
Also Read: Silver Tumbles Rs7,000 on Mcx, Slips Below Rs2.28 Lakh Amid Global Sell Off
MCX Gold October 5 futures stood at Rs 1,46,513 per 10 grams, while MCX Silver December 4 contracts were trading at Rs 2,27,390 per kg around 9 am. Gold was trading near $4,125 an ounce after falling 4% to a seven-week low.
According to Bloomberg, Iranian officials have privately expressed doubts over reaching an agreement with Washington before the US midterm elections in November. The development came after US President Donald Trump rejected Tehran's latest proposal to reopen the Strait of Hormuz within seven days.
Also Read: Silver Tumbles Rs7,000 on Mcx, Slips Below Rs2.28 Lakh Amid Global Sell Off
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Gold And Silver Prices In Major Cities
Retail gold is generally sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is more commonly used for jewellery.
According to the city-wise rates provided, updated at 10:20 am on September 29, gold and silver prices were:
For comparison, the Indian Bullion Association's previous-day figures cited in the original data put 24-carat gold at Rs 1,47,570 per 10 grams and 22-carat gold at Rs 1,35,273 per 10 grams. Silver 999 Fine was quoted at Rs 2,26,240 per kg.
Gold Price Today: What Buyers Should Know
The final price paid by customers can be higher than the quoted bullion rate. Jewellers may add making charges, taxes and GST to the bill.
Retail gold is generally sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is more commonly used for jewellery.
According to the city-wise rates provided, updated at 10:20 am on September 29, gold and silver prices were:
For comparison, the Indian Bullion Association's previous-day figures cited in the original data put 24-carat gold at Rs 1,47,570 per 10 grams and 22-carat gold at Rs 1,35,273 per 10 grams. Silver 999 Fine was quoted at Rs 2,26,240 per kg.
Gold Price Today: What Buyers Should Know
The final price paid by customers can be higher than the quoted bullion rate. Jewellers may add making charges, taxes and GST to the bill.
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