Gold and silver price today, Sept 29: Check retail rates of 24K, 22K gold and 999 silver in Mumbai, Delhi, other cities - livemint.com

AI desk brief

Gold and silver were sharply lower in early trade on 29 Sept, with MCX Gold 5 Oct at ₹1,46,513/10g and MCX Silver 4 Dec at ₹2,27,390/kg around 9:00 am. Bullion was cited around $4,125/oz after a 4% drop to a seven-week low, with the move linked to the US-Iran deadlock over the Strait of Hormuz and the resulting pressure on the Fed to keep rates higher.

Indian retail rates also softened: 24K gold was quoted at ₹1,47,570/10g on Monday versus city-level quotes around ₹1,46,990-₹1,47,710/10g on Tuesday, while silver 999 was around ₹2,26,240/kg nationally. The piece also notes gold’s >75% rally over the past year and silver’s stronger rise on demand and currency effects, but the immediate tape looks heavy as higher-rate expectations outweigh safe-haven support.