Gold and silver price today, Sept 16: Check retail rates of 24K, 22K gold and 999 silver in Delhi, Mumbai, other cities

Gold and silver prices: The price of the yellow metal in India rose nearly 0.65% in the domestic futures market during early trading hours on Wednesday, September 16, as uncertainty over the US-Iran conflict in West Asia continued fuel safe-haven demand.

In one of the recent developments in the West Asia crisis , Saudi Arabia last week temporarily shut its critical East-West pipeline after drones launched from Iraq damaged it. The pipeline has been one of the kingdom’s most important alternatives to shipping crude through the Strait of Hormuz.

MCX Gold 5 October futures were trading at ₹ 151,785 per 10 grams. Meanwhile, MCX Silver 4 December contracts were up 1.33% at ₹ 235,200 per kg around 9:04 am on Wednesday, September 16.

The rise comes after the yellow metal fell nearly 2% on Tuesday, September 15, tracking weak global cues.

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 more commonly used for making jewellery because it's more durable in nature.

On Wednesday, 24-carat gold was priced at ₹ 152,330/10 grams, and 22-carat gold was priced at ₹ 139,636/10 grams. Silver prices today are at ₹ 234,900/kg (Silver 999 Fine), according to Indian Bullion Association's (IBA) data.

Customers must note that jewellers may add making charges, taxes, and GST to the bill, which could hike the final price of the item. Here's a look at the latest gold prices across major Indian cities on :

Gold prices last year experienced their strongest bull run since 1979, rising by over 75%. In recent months, gold prices have risen modestly amid safe-haven demand and global economic uncertainty.

Meanwhile, silver prices have seen even steeper increases due to strong demand and currency fluctuations. Rates rose from roughly ₹ 78,600 per kg in 2023-2024 to over ₹ 240,000 per kg in August 2026. Although silver prices have moderated in September, they remain elevated.

The growth in prices of these precious metals can be attributed to ongoing tensions in Middle East, which began nearly seven months ago in Februrary and show no signs of easing.

Eshita Gain is a digital journalist at Mint, where she joined in May 2025. She writes on corporate developments, personal finance, markets, and business trends, with a focus on delivering timely and relevant stories to a broad audience. <br><br> While her core beat lies in business and finance, she is not confined to a single niche and frequently explores stories across domains, including international relations and policy developments. <br><br> She holds a postgraduate diploma in business and financial journalism by Bloomberg from the Asian College of Journalism (ACJ), Chennai. During her time there, she received rigorous training in tracking financial data, interpreting corporate filings, and reporting on business developments. She has pursued her graduation from St. Joseph’s University, Bengaluru in a multi-disciplinary course. Her majors included Journalism, International Relations, peace and conflict studies.