India gold rate September 16: Futures slip; retail prices flat
Gold and silver futures dipped slightly on MCX on September 16. Retail gold prices in major Indian cities remained largely unchanged at ₹1,53,160 per 10 gm for 24-carat.
Gold Market
Daily movements in the gold market and what is driving them.
Gold and silver futures dipped slightly on MCX on September 16. Retail gold prices in major Indian cities remained largely unchanged at ₹1,53,160 per 10 gm for 24-carat.
Gold and silver prices rose in domestic markets on Wednesday, with MCX gold futures gaining Rs 1,300 per 10 grams and silver climbing Rs 4,000 per kg ahead of the US Fed decision.
India's gold imports dropped 57.75% in August to $2.3 billion after the government raised import duty to 15%. Silver imports jumped 127%.
Gold trimmed its intraday losses on Tuesday but remained under pressure from a rising US Dollar and multi-year high Treasury yields as markets awaited a widely expected Fed interest rate hike.
Gold traded around $4,290 an ounce after falling to a five-week low, as Middle East oil disruptions reinforced expectations of a Federal Reserve rate hike this week.
Gold declined on Tuesday as rising crude oil prices and benchmark Treasury yields near 5% reinforced expectations of elevated interest rates ahead of the Fed's decision.
Spot gold dropped 0.9% to $4,308.24 as traders priced in an 89% chance of a US rate hike this week, following hot inflation data and rising oil prices.
Gold and silver declined on September 14, 2026, as oil prices jumped 4% on Middle East supply concerns and investors weighed the prospect of a US Federal Reserve rate hike.
Gold fell 0.85% on Monday, hitting a one-month low of $4,253, as the 10-year US Treasury yield climbed above 5% for the first time since 2023 and the US Dollar strengthened. Markets await the Federal Reserve's policy decision on Wednesday.