Gold prices dropped on September 8. Gold's October contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 1,07,456 per 10 grams today.
Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on September 8:
| City | Price of 24k gold | Price of 22k gold |
| Delhi | Rs 1,08,530/10g | Rs 99,500/10g |
| Mumbai | Rs 1,08,380/10g | Rs 99,350/10g |
| Chennai | Rs 1,08,770/10g | Rs 99,700/10g |
| Kolkata | Rs 1,08,380/10g | Rs 99,350/10g |
| Bengaluru | Rs 1,08,380/10g | Rs 99,350/10g |
| Jaipur | Rs 1,08,530/10g | Rs 99,500/10g |
| Lucknow | Rs 1,08,530/10g | Rs 99,500/10g |
| Hyderabad | Rs 1,08,380/10g | Rs 99,350/10g |
| Ahmedabad | Rs 1,08,410/10g | Rs 99,400/10g |
Goldman Sachs has increased its most bullish projection for gold prices this year, stating that $5,000/oz is possible should the credibility of the US Federal Reserve gets damaged, and investors convert part of their treasury holdings into bullion.
Until now, Goldman Sachs’ most-bullish projection had projected gold prices at about $4,000 by mid next year, owing to trade tariffs and concerns over high US debt, making it a safe bet in an unstable scenario.
"...gold is still in a bull market at this point in time. Rate-cut expectations and worries over the Federal Reserve's independence are going to add to safe-haven demand," Reuters quoted GoldSilver Central's MD Brian Lan.
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