Gold and silver prices today, September 15: Check latest rates in India, MCX updates

Gold and silver prices in India remained largely steady on Tuesday, September 15, with retail rates showing only marginal movement across major purity categories.

The precious metals market, however, remained sensitive to global cues, including movements in the US dollar, crude oil prices, geopolitical tensions and expectations surrounding the US Federal Reserve's next policy decision.

According to the latest retail rates, 24-carat gold is priced at ₹1,54,080 per 10 grams, while 22-carat gold is available at around ₹1,41,240 per 10 grams.

The rate for 18-carat gold stands at ₹1,15,560 per 10 grams.

The rates are indicative and can vary between cities and jewellers depending on local taxes, premiums and other charges.

Silver prices were also largely unchanged, with the metal trading at around ₹2,45,000 per kg in the retail market, according to Goodreturns. Silver was quoted at ₹245 per gram, with no change from the previous day's rate.

Gold, silver prices on MCX

On the Multi Commodity Exchange, gold futures were trading at around ₹1,51,304 per 10 grams, up 0.05%, while silver futures were around ₹2,32,750 per kg, gaining 0.03%, according to the latest available market data.

Check the latest gold rates here:

Another early-morning bullion update put India's 24K gold rate at ₹1,51,920 per 10 grams, while silver was at ₹2,32,570 per kg around 7:15 am, highlighting the difference between benchmark bullion rates and retail jewellery-market prices. 

Check the latest silver rates here

Key factors driving gold and silver prices

1. Global market pressure: Gold is facing pressure from a stronger US dollar and elevated crude oil prices, while Middle East tensions continue to create uncertainty in global markets.
2. Rupee movement: The Indian rupee weakened by more than 1% last week, closing at ₹95.55 against the US dollar. A weaker rupee can make imported gold costlier for Indian buyers.
3. Crude oil prices: Oil prices have remained above $100 a barrel, adding to inflation concerns and influencing investor sentiment.
4. US Fed policy: Investors are closely watching the US Federal Reserve's upcoming policy decision. Markets are pricing in a strong possibility of a 25-basis-point rate hike amid hotter-than-expected US inflation.
5. Gold's yearly gain: 24K gold rose from ₹1,10,650 per 10 grams on September 15, 2025, to ₹1,51,920 on September 15, 2026, marking a gain of around 37.3%.
6. Silver's yearly surge: Silver climbed from ₹1,29,350 per kg a year ago to ₹2,32,570 per kg on September 15, 2026, registering an increase of around 79.8%.
7. Festive demand and outlook: The upcoming festive and wedding season could support domestic jewellery demand, while international bullion prices, the rupee, crude oil, geopolitical developments and US Fed policy will remain key factors for the near-term price trend.