Planning to buy gold today on Ganesh Chaturthi? Check prices in Mumbai, Pune, Nagpur, Nashik
Gold prices edged lower further on Monday after posting a third consecutive weekly decline in the previous session. The price of non-yielding bullion eased as a surge in oil prices stoked inflation concerns and reinforced expectations that the US Federal Reserve could raise interest rates at its policy meeting this week, scheduled for 15 and 16 September. Since gold is typically seen as an inflation hedge, higher interest rates tend to diminish yellow metal’s appeal to investors.
The surge in crude oil prices came about due to closure of Saudi Arabia’s key oil pipeline following Iran-backed Houthis attacks along the Red Sea coast on the Kingdom’s oil infrastructure. Due to these developments, both 24-karat and 22-karat gold rates witnessed marginal decline across major cities in India over the last few days. Silver prices also dropped in the domestic bullion market.
As grand celebrations of Ganesh Chaturthi festival kick off in Maharashtra, the drop in gold price comes as pleasant news for buyers in Mumbai, Pune, Nagpur and Nashik. On Monday, gold was trading at ₹153,260 per 10 grams at 9:50 am while silver 999 rate stood at 234,690 per kilogram.
MCX gold rate on 14 September stood 0.08% lower at ₹152,655.00 per 10 grams while MCX silver futures price was about 0.04% lower at ₹234,886.00 per kg.
Gold price in the international market
According to Reuters, spot gold was down 0.5% and was trading around $4,327.80 an ounce at 0119 GMT after posting a third consecutive weekly decline on Friday. US gold futures for December delivery fell nearly 1% to $4,368.60.
Goldman Sachs on Friday said that it still sees upside risk to its forecast for gold to reach $4,900 an ounce by the end of 2026, although it expects price volatility to remain elevated.
Gold Prices in Mumbai — 14 September
24 karat gold rate in Mumbai — ₹152,990/10 gm
22 karat gold rate in Mumbai — ₹140,241/10 gm
Silver 999 Fine rate in Mumbai — ₹234,260/1 kg
Gold Prices in Pune— 14 September
24 karat gold rate in Pune— ₹152,990/10 gm
22 karat gold rate in Pune— ₹140,241/10 gm
Silver 999 Fine rate in Pune— ₹234,260/1 kg
Gold Prices in Nagpur— 14 September
24 karat gold rate in Nagpur— ₹152,990/10 gm
22 karat gold rate in Nagpur— ₹140,241/10 gm
Silver 999 Fine rate in Nagpur— ₹234,260/1 kg
Gold Prices in Nashik— 14 September
24 karat gold rate in Nashik— ₹152,990.00/10 gm
22 karat gold rate in Nashik— ₹140,241/10 gm
Silver 999 Fine rate in Nashik— ₹234,260/1 kg
