Gold may rise to test the resistance zone of $4520-$4535. However, oil prices rising further will pose a downside risk to this possibility.
In early trade on Friday, September 18, gold and silver prices were trading firm
The Bureau of Indian Standards has revised hallmarking charges for gold and silver articles, raising the fee for gold to Rs 75 from Rs 45, while retaining the charge for silver at Rs 35, with immediate effect ahead of the festive season. The increase has been notified through the BIS (Hallmarking) Amendment Regulations, 2026, dated September 14, 2026. Under the amended Schedule IV, jewellers are required to pay a hallmarking fee of Rs 75 per article, subject to a minimum charge of Rs 200 per consignment, while for silver articles, the fee payable by jewellers to recognised Assaying and Hallmarking Centres (AHCs) is fixed at Rs 35 per article, with a minimum of Rs 150 per consignment. BIS hallmarking verifies the purity of a precious metal used in jewellery and certifies the article under the Bureau of Indian Standards (BIS), containing the three key markings: its logo, Karat or millesimal fineness, and a six-digit alphanumeric code known as the Hallmark Unique Identification (HUID)
In August, Treasury more than doubled its bond repurchase operations from $2 billion to at least $4 billion per operation
In the global market, gold was trading near $4,375 per ounce on Comex, while silver was trading near $65 per ounce
The benchmark October gold contract opened at ₹1,51,115 per 10 gram, down ₹115 from the previous close of ₹1,51,230
Gold edged lower in early trade on Comex after opening at $4,448 per ounce, with the precious metal last trading at $4,458.90, down $1.80 from the previous close
Domestically, the dollar was whipsawed by a shifting Fed outlook through the week, leaving gold caught between a structurally softer greenback and rising rate-hike probability.
Gold had risen sharply in August, supported by higher investment and hedging demand, along with continued buying by central banks, including China's central bank
This uncertainty has brought the focus back on diversification - spreading investments across different asset classes.
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In the global market, gold was trading near $4,480 per ounce on Comex, while silver was around $67.60 per ounce
Gold has surged 9.6 per cent in a month, driven by expectations of US rate cuts, concerns over US government debt and geopolitical tensions. For new investors
Market experts broadly see equities as having the strongest structural case over the next decade.
Mirae Asset ShareKhan's Praveen Singh said that gold's key support levels are at $4,450, $4,358, and $4,300-4,330, while resistance is seen at $4,533, $4,575, and $4,650.
The case for educating citizens about India's obsession with gold
The Dutch central bank announced on Wednesday that it has moved billions of dollars worth of its gold reserves out of North America in a move it described as "crisis preparedness" in a time of global political unrest. It said that between March and August, some 86 metric tons (94.8 tons) of gold were transferred to London from the combined total of around 313 metric tons (345 tons) held in New York and Ottawa, Canada. Before the move, New York housed 31.3 per cent of the Dutch gold, and Ottawa held 19.7 per cent. After the move, both cities now hold 18.5 per cent, the bank said. The bank owns 612.4 metric tons (675 tons) of gold that was worth 72.2 billion euros (about USD 83.6 billion) at the end of 2025. "With this relocation, we have improved the tradability of our gold reserves," the bank's governor, Olaf Sleijpen, said in a written statement. "We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness." More than 27 metric tons
PM cites India's 7.8 per cent June-quarter GDP growth to renew his Swadeshi pitch, urging citizens to embrace self-reliance and sustain economic momentum
In the spot market, gold prices declined around 1.22 per cent to ₹1,54,940 per 10 grams. Meanwhile, silver futures fell 0.5 per cent to ₹2,40,011 per kg.
Gold seen at $4,300-$4,700, silver at $70-$85 by year-end in base case, bull case pegs gold at $5,600, silver $120 by year-end