Gold, Silver Prices Today, September 17: Yellow Metal Falls On MCX | Check Latest Prices Today

Gold & Silver Prices Today, September 17: Gold prices fell on Wednesday due to profit-taking after bullion touched a record high in the previous session on expectations of a US Federal Reserve interest rate cut. In Mumbai, the price of 24-carat gold stood at Rs 1,11,710 per 10 grams, while 22k gold was available at Rs 1,02,400 per 10 grams. Silver was available at Rs 1,32,000 per kg.

On the MCX, the price of gold was trading lower by 0.23% to trade at Rs 1,09,900 per 10 grams, while silver fell by 1.02% to Rs 1,27,503 per kg in the futures market in the early trade.

What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On September 17?

City	22K Gold (per 10gm)	24K Gold (per 10gm)
Delhi	Rs 1,02,550	Rs 1,11,860
Jaipur	Rs 1,02,550	Rs 1,11,860
Ahmedabad	Rs 1,02,450	Rs 1,11,760
Patna	Rs 1,02,450	Rs 1,11,760
Mumbai	Rs 1,02,400	Rs 1,11,710
Hyderabad	Rs 1,02,400	Rs 1,11,710
Chennai	Rs 1,02,400	Rs 1,11,710
Bengaluru	Rs 1,02,400	Rs 1,11,710
Kolkata	Rs 1,02,400	Rs 1,11,710

International Gold Prices Today

US spot gold was down 0.2% at $3,681.23 per ounce, as of

0256 GMT, after hitting a record high of $3,702.95 on Tuesday. US gold futures for December delivery eased 0.2% to $3,718.90.

“Gold’s ascent to $3700 was aided by the decline in the USD and by bets that the Fed may signal that follow-up rate cuts are likely to arrive before year-end… Profit taking around the $3,700 level saw the precious metal dip back below this mark. But should the Fed adopt a particularly dovish tone in their meeting, gold could be making another move higher,” KCM Trade Chief Market Analyst Tim Waterer said, according to Reuters.

What Factors Affect Gold Prices In India?

International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.

In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.

With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.

Silver Price Prediction 2025: ‘Precious Metal May Hit Rs 1.5 Lakh In 12 Months’

Silver could climb to as high as Rs 1.5 lakh per kg in the next 12 months, buoyed by strong industrial demand, safe-haven buying, and a weaker dollar, according to a quarterly outlook by Motilal Oswal Financial Services (MOFSL).

The brokerage said silver has already delivered nearly 37% returns year-to-date on MCX, outpacing several other asset classes. Globally, it expects Comex silver futures to advance towards $45 per ounce initially and touch $50 per ounce in the next phase of the rally.

“After achieving our earlier targets, we continue to believe silver remains poised for further upside. We expect prices to gradually move towards Rs 1,35,000 per kg in six months and then Rs 1,50,000 per kg in 12 months on the domestic front, assuming the rupee trades around 88.5 against the US dollar,” the report said.