The bullion market in India witnessed a significant surge in both gold and silver prices on 12 September. By 9:30 am, the price of 24 carat gold had already increased by more than ₹500 per 10 grams, while silver gained over ₹1000 per kilogram. This sharp rise has drawn attention from investors, jewellers, and customers across the country, with many closely tracking city-wise fluctuations in rates.
24 Carat Gold Price on 12 September
At around 9:30 am, 24 carat gold was trading at ₹109,561 per 10 grams on the Multi Commodity Exchange (MCX). The metal recorded an intraday low of ₹109,351 and a high of ₹109,580, showing strong volatility within the trading session.
Gold prices increased by ₹580 per 10 grams during the early hours of the session, pushing the market towards fresh highs. Analysts believe that if the current upward momentum continues, gold may soon breach the ₹110,000 mark per 10 grams.
Silver Price on 12 September
Silver too registered a sharp increase during the session. At 9:35 am, the price of 1 kilogram of silver was reported at ₹128,464 on the MCX, marking an increase of ₹1526 per kilogram.
In the same session, silver hit a low of ₹127,599 and a high of ₹128,612. For comparison, the India Bullion and Jewellers Association (IBJA) had recorded the price of 1 kilogram of silver at ₹124,594 on the evening of 11 September. The difference indicates a significant overnight surge in silver prices.
Gold and Silver Rates in Major Indian Cities
The price of gold and silver often varies across cities due to local demand, supply, and additional costs such as taxes and transportation. On 12 September, the following rates were recorded in key cities:
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Patna: Gold at ₹109,740 per 10 grams, Silver at ₹127,930 per kg
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Jaipur: Gold at ₹109,790 per 10 grams, Silver at ₹127,980 per kg
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Kanpur: Gold at ₹109,830 per 10 grams, Silver at ₹128,030 per kg
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Lucknow: Gold at ₹109,790 per 10 grams, Silver at ₹127,960 per kg
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Bhopal: Gold at ₹109,880 per 10 grams, Silver at ₹128,060 per kg
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Indore: Gold at ₹109,880 per 10 grams, Silver at ₹128,060 per kg
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Chandigarh: Gold at ₹107,380 per 10 grams, Silver at ₹123,340 per kg
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Raipur: Gold at ₹107,360 per 10 grams, Silver at ₹123,400 per kg
Based on these figures, Raipur currently offers the cheapest gold at ₹107,360 per 10 grams, while Bhopal and Indore record the highest gold prices at ₹109,880 per 10 grams. In terms of silver, Kanpur provides the lowest rate at ₹128,030 per kilogram, whereas Chandigarh records the highest price at ₹123,340 per kilogram.
Why 22 Carat Gold Remains Popular for Jewellery
While 24 carat gold is considered the purest form of the metal, 22 carat gold remains the preferred choice for jewellery making in India. This is because 22 carat gold contains a small percentage of other metals like copper and zinc, which make it stronger and more durable. These properties allow jewellers to craft intricate designs without compromising on durability.
For buyers looking to invest in jewellery, 22 carat gold provides the right balance between purity, strength, and long-term value.
Market Outlook and Investor Sentiment
The rising prices of gold and silver are influenced by both global and domestic factors. Globally, concerns about economic stability often drive investors towards safe-haven assets like gold. In India, cultural demand linked to festivals and weddings further strengthens the market.
With gold edging close to ₹110,000 per 10 grams and silver maintaining momentum above ₹128,000 per kilogram, the sentiment in the bullion market remains bullish. Many investors consider the current surge as an opportunity for portfolio diversification.
Silver’s industrial demand, particularly in electronics and solar energy, also supports its long-term price strength. Analysts expect both gold and silver to remain volatile in the near term but retain an upward bias if global uncertainties continue.
On 12 September 2025, gold and silver prices in India recorded significant gains. 24 carat gold reached ₹109,561 per 10 grams, while silver touched ₹128,464 per kilogram on the MCX. Raipur offered the lowest gold price, while Bhopal and Indore reported the highest. For silver, Kanpur recorded the lowest rate, whereas Chandigarh showed the highest.
The preference for 22 carat gold in jewellery continues to dominate, owing to its durability and strength. The sharp increase in both gold and silver prices highlights the importance of these metals not just as cultural staples but also as investment assets.
As the market remains volatile, buyers and investors are advised to monitor price trends closely. With the festive season approaching, demand is expected to push gold and silver prices further, keeping both metals at the center of India’s economic and cultural landscape.
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