Gold prices fell sharply on Monday, September 29, with 24-carat gold in Delhi dropping about Rs 2,500 per 10 grams to around Rs 1,50,320, while 22-carat gold was quoted near Rs 1,37,800. In Mumbai, 24-carat gold traded around Rs 1,50,170 per 10 grams. The fall tracked international markets, where spot gold slid nearly 4 per cent to $4,110.55, a seven-week low.

Rising crude oil prices fuelled inflation concerns, while higher US bond yields and expectations of an interest rate hike pressured the metal. Silver also stayed elevated, with Delhi prices around Rs 2,61,900 per kg. Analysts said gold’s slide came despite geopolitical tensions, as rate expectations outweighed safe-haven demand.

Prices remain indicative and exclude making charges and GST. Jewellers advise buyers to check live rates before purchasing, as retail quotes can move during the day and vary by city and making charges. Demand typically picks up ahead of the festive and wedding season, which could lend support to prices.