Gold price today: The gold and silver markets witnessed a decline in prices on Tuesday, September 24, as the festive season approaches. This slight drop has brought a smile to the faces of buyers. Let’s take a look at today’s prices and the market scenario.

Today’s Snapshot: How much did prices fall?

24-carat Gold: The price of 10 grams of gold fell by ₹270 today. The price without GST was ₹1,14,044 per 10 grams, while the price including GST is ₹1,17,465 per 10 grams.

Silver: Silver prices also declined by ₹362 per kg. It opened at ₹1,34,905 per kg without GST, and the price including GST is ₹1,38,952 per kg.

Today’s gold prices by different karat (excluding making charges, including GST):

23-carat Gold: ₹1,16,994 per 10 grams

22-carat Gold: ₹1,07,597 per 10 grams

18-carat Gold: ₹88,098 per 10 grams

14-carat Gold: ₹68,717 per 10 grams

How has the trend been so far in September?

While there was a decline today, gold and silver have shown a remarkable surge throughout September. Compared to the end of August, gold has become approximately ₹11,656 per 10 grams and silver ₹17,333 per kg more expensive. This decline is seen as a consolidation.

Questions from the public: Important information for you

Question: Why did gold and silver prices fall?
Answer: According to experts, there are some key reasons:

Stronger Dollar: The impact of the rupee’s performance against the dollar and fluctuations in the dollar index. Waiting for global economic data: Investors are closely watching economic data, such as the US PCE inflation figures, which could lead to market volatility.

Technical consolidation: After a sustained rise, prices often stabilize at a certain level.

Question: Is it a good time to buy gold now, or should I wait for further price declines?
Answer: This is the most important question. Experts advise:

Gold: According to Manoj Kumar Jain of Prithvi Finmart Commodity Research, buying gold around ₹1,12,500 (excluding GST) could be profitable. He suggests a stop-loss of ₹1,11,880 and a target of ₹1,14,400.

Silver: Experts advise waiting for further price declines before taking a new long position (buying) in silver.

Note: These prices are issued by the India Bullion and Jewellers Association (IBJA). The actual price at your local jeweler may vary by ₹1,000 to ₹2,000 due to making charges, design, and other fees. Always confirm the final price with your local jeweler before purchasing.

(Source: Based on the latest update from IBJA)