Gold prices in India rose on Wednesday, tracking global gains amid growing expectations that the US Federal Reserve may cut interest rates next month.
In Mumbai, 24-carat gold was priced at Rs 1,25,850 per 10 grams, while 22-carat gold stood at Rs 1,15,360. In Delhi, the precious metal was slightly higher at Rs 1,25,980 (24K) and Rs 1,15,510 (22K) per 10 grams. Silver prices also moved up, trading at Rs 1,60,100 per kilogram in the spot market. On the Multi Commodity Exchange (MCX), December gold futures climbed 0.34% to Rs 1,24,340 per 10 grams, while silver gained 0.67% to Rs 1,55,725 per kilogram. Gold Prices Across Key Cities (per 10 grams)
Jaipur: 22K – Rs 1,15,510 | 24K – Rs 1,25,980
Ahmedabad: 22K – Rs 1,15,410 | 24K – Rs 1,25,900
Pune: 22K – Rs 1,15,360 | 24K – Rs 1,25,850
Mumbai: 22K – Rs 1,15,360 | 24K – Rs 1,25,850
Hyderabad: 22K – Rs 1,15,360 | 24K – Rs 1,25,850
Chennai: 22K – Rs 1,15,360 | 24K – Rs 1,25,850
Bengaluru: 22K – Rs 1,15,360 | 24K – Rs 1,25,850
Kolkata: 22K – Rs 1,15,360 | 24K – Rs 1,25,850
Analyst View: Profit-Booking Caps Gains
Rahul Kalantri, Vice-President (Commodities) at Mehta Equities, said gold and silver remain volatile but well-supported:
“Early buying pushed prices higher, but profit-booking erased those gains. Optimism around the US government ending its record shutdown and stronger equities reduced safe-haven demand. However, weak US labour data has reinforced expectations of a Federal Reserve rate cut next month.”
Kalantri noted that market odds of a 25-basis-point rate cut now stand at 68%, which continues to support bullion prices globally.
Why Gold Prices Are Rising
Gold prices in India are influenced by multiple factors:
Global market trends and Fed policy expectations
Import duties and taxes
Exchange rate movements
Cultural and seasonal demand, especially during weddings and festivals
Amid ongoing macroeconomic uncertainty, investors are increasingly turning to gold as a safe-haven asset and hedge against inflation.
