Gold Rate Today In India: On September 19, gold prices in India were around Rs 73,000 per 10 grams. The price of 24-carat gold, known for its highest purity, stood at Rs 74,720 per 10 grams. For jewellery buyers, 22-carat gold, which is more durable due to its alloy composition, was priced at Rs 68,490 per 10 grams.
Silver, on the other hand, was trading at Rs 90,900 per kilogram.
Gold rate today in India: Retail gold price on September 19
Check gold rates today in different cities on September 19, 2024; (In Rs/10 grams)
| City | 22 Carat Gold Rate Today | 24 Carat Gold Rate Today |
| Delhi | 68,640 | 74,870 |
| Mumbai | 68,490 | 74,720 |
| Ahmedabad | 68,540 | 74,770 |
| Chennai | 68,490 | 74,720 |
| Kolkata | 68,490 | 74,720 |
| Gurugram | 68,640 | 74,870 |
| Lucknow | 68,640 | 74,870 |
| Bengaluru | 68,490 | 74,720 |
| Jaipur | 68,640 | 74,870 |
| Patna | 68,540 | 74,770 |
| Bhubaneshwar | 68,490 | 74,720 |
| Hyderabad | 68,490 | 74,720 |
Impact of Fed Rate Cut on India’s Gold Price
The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point.
The central bank’s action lowered its key rate to roughly 4.8 per cent, down from a two-decade high of 5.3 per cent, where it had stood for 14 months as it struggled to curb the worst inflation streak in four decades. Inflation has tumbled from a peak of 9.1 per cent in mid-2022 to a three-year low of 2.5% in August, not far above the Fed’s 2 per cent target.
When the Fed cuts interest rates, the US dollar tends to weaken.
As gold is priced in US dollars, a weaker dollar makes gold more affordable for buyers holding other currencies, like the Indian rupee. This can increase the demand for gold.
According to analysts, when there is a decline in interest rates, the opportunity cost of holding non-interest-yielding assets like gold decreases. A super-sized rate cut may further weaken the US currency, which is already trading near its weakest level this year.
In addition, since gold is traditionally viewed as a hedge against inflation, investors’ anticipation of rising inflation due to lower rates tends to further lift the investment demand, along with its prices, making it more attractive to investors.
Retail Cost of Gold in India
What Is The Retail Price Of Gold Per Gram?
Gold price per gram is the cost of one gram of gold. It’s typically expressed in a specific currency (e.g., Indian Rupees). The price can fluctuate daily due to various factors, including economic conditions, geopolitical events, and supply and demand.
The retail price of gold in India, which represents the final cost per unit weight for consumers, is shaped by multiple factors beyond its intrinsic value.
Gold is deeply embedded in Indian culture, acting as a key investment and holding significant importance in traditional weddings and festivals.
As market conditions shift, investors and traders closely watch these trends. Stay tuned for more updates on this developing story.