India 24K Gold Hits Rs 15,475 Amid Oil Price Stabilization
Indian gold prices rose to Rs 15,475 per gram as falling oil costs eased inflation fears and supported global bullion demand.
Key points
- 24 carat gold price in India rose to Rs 15,475 per gram on September 22.
- Crude oil prices fell over four sessions, reducing inflation fears and supporting gold.
- Delhi recorded the highest city price at Rs 15,490 for 24 carat gold.
The price of 24 carat gold in India reached Rs 15,475 per gram on September 22. This marks a daily increase of Rs 17 from the previous session.
According to data reported by The Indian Express, 22 carat gold also climbed by Rs 15. The 18 carat purity saw a smaller gain of Rs 12 per gram.
Oil Drops Support Gold Prices
Global gold traded near $4,362 per ounce after stabilizing. This recovery followed a sharp decline in crude oil prices over four sessions.
Lower energy costs reduced inflation concerns for central banks. This shift eased pressure on interest rate expectations and bolstered safe-haven assets.
Regional Tensions Influence Market Behavior
Diplomatic efforts between the US and Iran remain active. These talks aim to prevent nuclear proliferation and stabilize regional security.
Investors moved into gold as a hedge against geopolitical risk. This demand supported local bullion valuations alongside global spot trends.
City Prices Show Minor Variations
Delhi recorded the highest 24 carat price at Rs 15,490. Chennai and Mumbai both listed the metal at Rs 15,475 per gram.
Other major cities like Kolkata and Bangalore matched the Rs 15,475 benchmark. Ahmedabad and Vadodara showed slight premiums of Rs 15,480.
