Indian Gold Drops to 154,240 Rupees on MCX Amid US Inflation Watch
Spot gold rose to 4,418.71 dollars while Indian retail prices fell. The US-Iran conflict and upcoming inflation data drive the volatility.
MCX gold futures fell 0.03% to 154,240 rupees per 10 grams on September 10. This decline occurred despite a 1.5% rise in spot gold to 4,418.71 dollars per ounce. The divergence reflects distinct domestic and international market pressures. The US dollar weakened, supporting higher global bullion values. Domestic rates dropped due to currency and local demand factors.
US President Donald Trump’s advisers warned of a prolonged Iran conflict. The US destroyed Iranian oil tankers in retaliation for an attack attempt on a warship. Investors await US inflation data to gauge Federal Reserve policy. Oil prices rallied, adding to monetary uncertainty. These geopolitical and macroeconomic factors keep markets volatile.
Retail Prices Fall Across Major Cities
24-karat gold in New Delhi cost 153,610 rupees per 10 grams. Mumbai recorded a rate of 153,880 rupees. Bengaluru saw prices at 154,000 rupees. Kolkata rates stood at 153,670 rupees. Hyderabad prices were 154,120 rupees. Chennai recorded the highest rate at 154,470 rupees.
22-karat gold prices also declined. New Delhi traded at 140,809 rupees per 10 grams. Mumbai rates were 141,057 rupees. Bengaluru prices reached 141,167 rupees. Kolkata rates were 140,864 rupees. Hyderabad prices stood at 141,277 rupees. Chennai recorded 141,598 rupees per 10 grams.
Silver Futures Trade Lower
MCX silver futures dropped 0.49% to 242,820 rupees per kilogram. This decline mirrored the trend in gold. Retail silver 999 fine prices varied by city. New Delhi rates were 241,860 rupees per kilogram. Mumbai prices stood at 242,280 rupees. Bengaluru rates reached 242,470 rupees.
Kolkata silver prices were 241,960 rupees per kilogram. Hyderabad rates stood at 242,660 rupees. Chennai recorded the highest silver rate at 242,990 rupees. The domestic bullion market showed broad weakness. Both metals reflected cautious investor sentiment. The GN auto markets/commodities: gold prices report highlights these specific regional variations.
