As India prepares for the upcoming festive season, demand for gold and silver ornaments is set to climb, giving further momentum to rising prices. Over the last week, the value of gold has been on a consistent upswing, with nearly a 4% jump taking it to new record levels, as per market updates.

Gold is traditionally viewed as a safe investment against inflation. Among the various forms, 24-carat gold is the costliest and widely chosen for investment, while 22-carat and 18-carat varieties are more popular in jewellery making.

Latest Gold Prices Update – September 16

On Tuesday, September 16, gold recorded another increase across categories.

• 24-carat gold advanced by ₹87 to reach ₹11,193 per gram.
• 22-carat gold moved up by ₹80, settling at ₹10,260 per gram.
• 18-carat gold saw a rise of ₹66, now at ₹8,395 per gram.

City-Wise Rates Across India

Prices remained largely similar nationwide with some differences from city to city. In southern hubs like Chennai and Coimbatore, 24-carat gold touched ₹11,215 per gram. In northern cities including Delhi, Jaipur, Lucknow, and Chandigarh, it was priced at ₹11,208 per gram.

Meanwhile, metros such as Mumbai, Kolkata, Bangalore, Hyderabad, Kerala, and Pune saw the rate fixed at ₹11,193 per gram. In Ahmedabad and Patna, the price stood slightly higher at ₹11,198 per gram, while Gurgaon, Ghaziabad, and Noida registered lower rates at ₹11,120 per gram.

Market Trend Ahead

With the festive period approaching, industry experts expect jewellery purchases to increase further, which could drive gold rates to remain firm or even edge higher in the weeks to come.