Gold and silver prices have experienced notable fluctuations as of September 13, reflecting market dynamics influenced by recent economic outlooks, particularly concerning potential rate cuts by the US Federal Reserve.
This week, the rates for the yellow metal increased on the Multi Commodity Exchange (MCX), with October contracts for gold reaching ₹1,09,356 per 10 grams, a rise of 0.34% by the close of trading on Friday, September 12. Concurrently, silver prices soared to a historic high, with December contracts touching ₹1,28,840 per kilogram.
Analyzing the performance of these precious metals reveals substantial growth over the years. Gold prices have shown a dramatic year-to-date increase of approximately 42%, corresponding to a remarkable appreciation of about 1,200% from the ₹7,638 mark in 2005, lifting rates to over ₹1,00,000 by 2025. Over the past two decades, gold has yielded impressive returns in 16 out of 20 years. Similarly, silver has demonstrated resilience, remaining above ₹1 lakh per kilogram for an extended period and achieving a notable increase of 668.84% between 2005 and 2025.
As of the latest market data, 24-carat gold was priced at ₹1,09,800 per 10 grams, while 22-carat gold was listed at ₹1,00,650 per 10 grams, as reported by the Indian Bullion Association (IBA). Silver prices per kilogram were noted at ₹1,28,710 for Silver 999 Fine.
For retail buyers, local prices vary across major cities. In Bengaluru, gold bullion rates stood at ₹1,09,690 per 10 grams, while the MCX rate was ₹1,09,356 per 10 grams, with silver bullion priced at ₹1,28,580 per kilogram. In Hyderabad, the rates were slightly higher, displayed at ₹1,09,780 per 10 grams for gold bullion and ₹1,28,680 per kilogram for silver. Chennai recorded the highest gold bullion price among the mentioned cities at ₹1,09,920 per 10 grams, with silver at ₹1,28,850 per kilogram.
It is critical for retail investors to note that jewellers may add making charges, taxes, and GST, which could affect the final purchase price.
Investors are advised to seek guidance from certified experts when considering investment decisions in these precious metals, as market conditions can change rapidly.
