Gold, silver prices today, 15 September: Check retail rates of 24K, 22K gold, 999 silver in Delhi, Mumbai and Kolkata
Gold and silver prices: The price of the yellow metal in India's retail market declined on Tuesday, 15 September, amid ongoing uncertainty over the US-Iran conflict, with oil extending gains following Houthi strikes on Saudi Arabia, as the conflict continues to expand.
Oil extended gains Tuesday, amid reports of fresh Houthi strikes on Saudi Arabia and attacks by Iran on ships in the Gulf. Futures for international benchmark Brent crude for November delivery gained 1.25% to $107.00 a barrel. US West Texas Intermediate futures for October advanced 1.27% at $102.68 per barrel, as per a report by CNBC US.
Furthermore, Saudi Arabia closed its critical East-West pipeline that bypasses the Strait of Hormuz , after drones launched from Iraq damaged it, exacerbating oil supply disruptions at a time when the market is already tight.
Spot gold was little changed at $4,300.96 per ounce, as of 0157 GMT, after hitting its lowest point since 7 August on Monday. US gold futures were down 0.3% at $4,341.10.
Due to these developments, both 24-karat and 22-karat gold rates are showing a marginal decline across major cities in India. Silver prices also dropped in the domestic bullion market.
MCX gold rate on 15 September was trading 0.06% lower at ₹ 151,830 per 10 grams. MCX silver futures were trading about 0.39% lower at ₹ 231,670 per kg at around 9:43 am.
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it is more durable.
Here's a look at the latest gold prices across major Indian cities on 15 September.
Shivam writes on personal finance, equity markets, and mutual funds. He has previously contributed to several leading publications, including Moneycontrol. He can be reached at [email protected]
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