Domestic bullion markets commenced the trading week on a subdued trajectory on 21 September, witnessing broad-based declines across both gold and silver segments. This softening mirrored a hesitant opening across Asian trading hubs, where yellow metal prices edged lower on Monday morning. Market participants chose a guarded approach ahead of upcoming high-level talks between the United States and China, while persistent geopolitical friction in the Middle East added another layer of restraint to investor appetite. In tandem with these global macro drivers, domestic pricing across standard purity tiers retreated from prior marks.
24-Karat Gold Rates Decline
In the highest purity bracket, 24K gold experienced a drop of Rs 16 per gram, taking the rate to Rs 15,568 per gram. Retail and investment volumes reflected proportionate adjustments across standard transaction denominations. An 8-gram unit of 24K gold settled at Rs 1,24,544, marking an absolute drop of Rs 128 from the earlier tally. For a 10-gram denomination, the price eased by Rs 160 to land at Rs 1,55,680. At the commercial and institutional end, 100 grams of 24-karat gold settled at Rs 15,56,800, shaving off Rs 1,600 compared to the preceding valuation.
22-Karat and 18-Karat Gold Pricing Adjustments
The 22K gold category, predominantly utilized across Indian households for crafting traditional jewelry, declined by Rs 15 per gram to settle at Rs 14,270 per gram. Purchases of 8 grams in this purity now stand at Rs 1,14,160, lower by Rs 120. A standard 10-gram transaction for 22K gold costs Rs 1,42,700 following a contraction of Rs 150. Meanwhile, bulk acquisition of 100 grams is positioned at Rs 14,27,000, representing a net reduction of Rs 1,500.
Lower-karat options also mirrored the downward revision. The price of 18K gold declined by Rs 12 to settle at Rs 11,676 per gram. For an 8-gram quantity, the updated cost is Rs 93,408, registering a decrease of Rs 96. A 10-gram parcel is priced at Rs 1,16,760, reflecting a Rs 120 reduction. Larger quantities followed the same trajectory, with 100 grams of 18K gold priced at Rs 11,67,600 after easing by Rs 1,200.
Silver Rates Register Broad Slump
Silver witnessed an identical downward realignment, shedding Rs 5 per gram to trade at Rs 250 per gram compared to its previous level of Rs 255. Smaller volume purchases tracked this slide closely, with an 8-gram lot priced at Rs 2,000, down Rs 40, and a 10-gram unit changing hands at Rs 2,500 after a Rs 50 drop.
Larger quantities logged noticeable pullbacks. A 100-gram parcel of silver moved down from Rs 25,500 to Rs 25,000, reflecting a drop of Rs 500. On the kilogram benchmark, silver slipped by Rs 5,000, bringing the cost down from Rs 2,55,000 to Rs 2,50,000 per kilogram for industrial consumers and bulk buyers.
Technical Indicators and Analyst Commentary
Assessing chart structures and prevailing market headwinds, Aamir Makda, Commodity and Currency Analyst, Technical Research at Choice Broking, noted that gold resumed trading with a gap-down open at 153,600 on Monday. He pointed out that momentum remained moderately bearish as traders kept their attention firmly locked on geopolitical events, crude oil price movements, and bond yield fluctuations. Although prices briefly dipped near 153,000 during early trading, they managed to hold above the 50 and 200 exponential moving averages on hourly charts, positioned at 152,914 and 153,207 respectively, which serve as essential support zones to track.
