Gold and Silver Price Today (September 24): Gold prices firm in major cities on local demand; check details

Gold prices inched up on Tuesday, September 24, to trade above ₹76,000 per 10 grams level for the second day following firm local demand and positive global trends. Silver prices, however, slipped below ₹93,000 per kg on easing demand from industrial units and coin makers.

Spot gold prices traded near record-high levels in global markets. The precious metal was trading at $2,631.45 an ounce in New York in the spot market. In futures trade, the December contract of the metal was trading higher at $2,655.20 per ounce on Comex.

The precious metal has risen to all-time high levels on continuing optimism over the US Federal Reserve's rate cut. Spot gold prices hit record-high levels in early Asian trade, following expectations of more rate cuts by the US Fed Reserve last week.

The deeper-than-expected rate cut has strengthened hopes of up to a 100 basis point cut in interest rate in the coming months, reining in the US dollar and US bond yields.

Gold Price Today in India (September 24, 2024)

Gold prices inched up ₹10 to ₹76,310 per 10 gm in Delhi markets on Tuesday, September 24. The 24K gold traded at ₹76,310 per 10 gram while 22K gold traded at ₹69,960 per kg level.

Gold Price Today in Major Cities:

Silver Price Today in India (September 24, 2024)

Silver prices eased by ₹10 per kg to slip below ₹93,000 per kg on Tuesday across major cities. Weak demand from industrial units and coin makers weighed in the white metal.

Spot silver prices in global markets rebounded by 1.29% to $31.0795 per ounce, restricting a deeper fall in the white in local markets.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold and silver prices advanced last week following strong global trends. A 50 basis point rate cut by the US Fed backed the precious metals. Gold prices opened at ₹75,050 per 10 grams on Monday. They recovered on Thursday and Friday to hit ₹75,930 per 10 grams.

Following the trend, silver gained a total of ₹2,000 last week to trade at ₹93,000 per kg on Friday.

Here’s a comparison of gold and silver prices this week:

*(Mumbai Rates)