Gold and silver price today, September 24: Check rates of 24K, 22K gold in Delhi, Mumbai, Kolkata other…

Reports coming in for today mention that Spot gold declined 0.02 percent hovering just above 4,286 per ounce in the early session on September 24, while US gold futures traded with a 0.10 percent gain to $4,322.70 per ounce (03:31 GMT), following earnings booking amid escalating US-Iran tensions and an elevated dollar.

MCX gold futures for the October 5 delivery opened the Thursday session with a 0.21 percent slide to Rs 1,50,980 per 10 grams, and silver edged 0.5 percent down to Rs 2,34,724 per kilogram (09:10) from its previous close.

The domestic spot gold closed the Wednesday session at Rs 1,51,415 per 10 grams, while silver held its prices at Rs 2,32,810 per kilogram.

Here's how gold prices of 24 Karat, 22 Karat, and 18 Karat purity moved.

(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();

Here's how the price of 1 kilogram of silver of 999 purity moved.

(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();

Gold prices vary among cities. Here’s how the price of 10 grams of gold moved in your city.

(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();

Gold and silver outlook for market participants

According to Vikram Subburaj, CEO of Giottus, gold’s slide appears to be partly linked to contract rollovers, suggesting that traders are reducing near-month exposure and shifting towards the next contract. Silver’s positioning is less comfortable and stays the more difficult metal to trade in the short term.

The pressure came mainly from global markets as the dollar index strengthened. Expectations of another US interest-rate gain have reduced the appeal of non-yielding assets. Elevated crude prices offer bullion some geopolitical backing. That stated, it additionally increases inflation risk and strengthens the case for tighter monetary policy.

Subburaj suggests, "For Indian market participants, the indian rupee and the 15 percent import tariff will keep cushion domestic prices from the full extent of an international slide. Gold buyers can stagger purchases rather than chase intraday reversals. Futures traders should watch Rs 1,51,050 in gold and Rs 2,35,500 in silver. A break below these marks would indicate that the correction has further to run."