Gold prices across India showed mild movement on September 15, with traders closely tracking international bullion trends and rupee exchange rates before settling into relatively stable patterns for the trading session.
At the national level, the benchmark price for 22-carat gold — the purity most commonly used in jewellery across the country — saw a marginal shift, while 24-carat gold, favoured by investors and bullion dealers, followed a similar trajectory. Experts noted that domestic rates continue to be shaped by a combination of global factors, including the US dollar index, Federal Reserve policy signals, and geopolitical tensions that affect risk sentiment in commodity markets.
City-wise, a noticeable spread persisted between southern metros and northern hubs. Chennai and Kochi, where demand remains robust throughout the year due to cultural and wedding-season preferences, recorded the highest 22-carat rates, often running several rupees per gram above the national average. Delhi, which benefits from relatively lower state-level tax burdens on gold, continued to offer some of the most competitive retail prices in the country. Mumbai and Kolkata fell in between, with their rates reflecting a combination of central GST, local dealer margins, and transport costs.
Market observers pointed out that 18-carat gold — frequently used in lightweight and contemporary jewellery designs — also moved in line with its higher-purity counterparts, though the absolute price difference between 18K and 22K kept widening as global spot prices stayed firm.
Traders advised buyers to monitor the rupee-dollar movement closely over the coming days, warning that any sharp depreciation of the Indian currency could push domestic rates higher, given that India imports nearly all of its gold requirements.
No major government policy change affecting gold import duties was announced on September 15, leaving the existing tariff structure undisturbed.
