Gold rates in India experienced a significant recovery on Friday, September 25, with 24-carat gold prices rising by ₹1,780 per 10 grams to ₹15,284 per gram according to Zee News reports. This recovery came after gold suffered its biggest one-day fall of ₹152 per gram on Thursday, translating into a massive ₹15,200 decline for 100 grams of 24-karat gold in a single session. The recovery followed gold's earlier decline from September monthly peaks, with 24-carat gold prices falling by ₹8,200 per 100 grams from their highest level of ₹1,56,660 recorded on September 4th. Latest domestic trading shows MCX gold futures opened ₹300 higher at ₹1,51,010 per 10 gram and were trading ₹425 higher at ₹1,51,135 at the time of writing, while gold futures on Comex were trading near $4,310 per ounce. In the latest session, 24-karat gold rose ₹16 per gram to ₹15,284, while 22-karat gold gained ₹15 to ₹14,010 per gram and 18-karat gold moved higher by ₹12 to ₹11,463 per gram. The hike followed a rate decline for three consecutive days, with 22K gold at ₹14,010 per gram and 18K gold at ₹11,463 per gram.
Silver rates demonstrated contrasting performance on September 25, with silver prices remaining unchanged at ₹245 per gram or ₹2,45,000 per kilogram according to Goodreturns reports. This stability follows silver's earlier strong performance, with silver prices reaching their highest monthly level at ₹2.55 lakh per kg on September 20, while 100 grams and 10 grams silver prices stood at ₹25,500 and ₹2,550 respectively. As reported by Goodreturns, silver gained over 2% in September 2026, significantly outperforming gold's monthly performance. The precious metal market continues to remain sensitive to movements in the dollar, US interest-rate expectations and broader global financial conditions. 8 grams of silver is priced at ₹1,960, while 10 grams costs ₹2,450, and 100 grams costs ₹24,500, with all rates remaining unchanged from the previous day.
Latest retail rates across major Indian cities show varied pricing across different gold categories. According to Zee News and Goodreturns reports, 24-karat gold is priced at ₹15,284 per gram today, up ₹16 from the previous rate, with 8 grams costing ₹1,22,272, reflecting a ₹128 increase. 10 grams is priced at ₹1,52,840, up ₹160, while 100 grams costs ₹15,28,400, marking a ₹1,600 rise. 22-karat gold has moved higher to ₹14,010 per gram, with 8 grams at ₹1,12,080, up ₹120, 10 grams at ₹1,40,100, reflecting a ₹150 increase, and 100 grams climbing ₹1,500 to ₹14,01,000. 18-karat gold is available at ₹11,463 per gram, up ₹12 from the previous rate, with 8 grams at ₹91,704, up ₹96, 10 grams at ₹1,14,630, up ₹120, and 100 grams at ₹11,46,300, marking a ₹1,200 daily increase. City-wise breakdown shows Delhi at ₹15,299 per 10 grams for 24K gold and ₹14,025 per 10 grams for 22K gold, Mumbai at ₹15,284 per 10 grams for 24K gold and ₹14,010 per 10 grams for 22K gold, and Kolkata showing ₹15,284 per 10 grams for 24K gold and ₹14,010 per 10 grams for 22K gold. Amritsar commands the highest rates at ₹15,299 per 10 grams for 24K gold, while Chandigarh and Lucknow are priced at ₹15,299 per 10 grams.
The Federal Reserve's decision to raise policy rates by 25 basis points continues to create significant market volatility for precious metals, with gold weakened since it does not earn any interest. According to Ponmudi R, CEO of Enrich Money, the Fed's hawkish dot plot, rather than the rate hike itself, is likely to remain the dominant driver for precious metals. The central bank's projections showed 16 of 18 officials indicating preference for further tightening this year, with markets pricing in approximately 53% probability of another rate move in October. Treasury yields moved above 5%, creating headwinds for non-yielding assets like gold and silver. Latest developments show spot gold fell 0.1% to $4,271.54 an ounce at 7:50 a.m. in Singapore, while silver was down 0.2% at $63.68 an ounce and on track to end the week almost 4% lower. Despite Friday's recovery, bullion remained on track for a weekly decline as a stronger US dollar and growing expectations that the US Federal Reserve could keep interest rates elevated for longer weighed on investor sentiment towards non-yielding assets. However, weaker crude oil prices worked in support of the precious metal, with oil supply remaining strong despite disruption to Saudi Arabia's East-West pipeline, easing concerns over energy supply disruptions and lowering oil prices.
Currency movements significantly influenced domestic precious metals pricing, with USD/INR rising during the week as the rupee weakened by around 0.3% to close near ₹95.86 per dollar. As reported by Goodreturns, the weaker rupee helped cushion MCX gold and silver against pressure from weaker international prices by raising the landed cost of imported bullion. SMC Global Securities analysts noted that gold is consolidating within the $4,250-$4,510 range on COMEX, while silver is expected to remain range-bound between $62-$68. According to Dr. Ravi Singh, Chief Research Officer from Master Capital Services Ltd, "Gold prices have increased sharply so making traditional & physical jewellery less affordable. Consumers are responding by buying lighter jewellery and shifting part of their investment to coins, ETFs and digital gold, which require lower ticket sizes." On the domestic front, MCX gold is likely to trade within ₹1,49,500-₹1,56,600 range and silver may move in ₹2,30,000-₹2,48,000 range. As the festival season approaches, buying is expected to further support gold rates, with the current trend hinting towards high volatility as it is being impacted by inflationary pressure as well as uncertainty over the US-Iran war. Addressing the 81st United Nations General Assembly, Iran's President Masoud Pezeshkian said that "It's up to America to end this war or continue and that they 'do not wish to continue'", while US President Donald Trump hinted towards the possibility of a deal between the United States and Iran after midterm elections on November 3.
