Gold Price Today: On September 1, the price fell for the second consecutive day..
Gold Rate Today in India: Following a recent rally, profit-taking has exerted pressure on gold prices, while silver has faced downward pressure due to subdued industrial demand. Regarding gold, after a day of stability, the price of 10 grams of 24-carat gold has dropped by ₹1,480 and 22-carat gold by ₹1,360 over the last two days. Today, prices in the capital, Delhi, have dipped by ₹10 for 10 grams of both 24-carat and 22-carat gold. Silver has also seen its shine fade; after remaining stable for three consecutive days, its price has declined today, with one kilogram of silver becoming cheaper by ₹100.
City-wise Gold Prices
Let’s find out the price of 10 grams of gold (18-carat, 22-carat, and 24-carat purity) across 10 major cities in the country...
City 24-Carat Gold Price (10g) 22-Carat Gold Price (10g) 18-Carat Gold Price (10g)
Delhi ₹1,56,910 ₹1,43,840 ₹1,17,720
Mumbai ₹1,56,760 ₹1,43,690 ₹1,17,570
Kolkata ₹1,56,760 ₹1,43,690 ₹1,17,570
Chennai ₹1,56,760 ₹1,43,690 ₹1,21,390
Bengaluru ₹1,56,760 ₹1,43,690 ₹1,17,570
Hyderabad ₹1,56,760 ₹1,43,690 ₹1,17,570
Lucknow ₹1,56,910 ₹1,43,840 ₹1,17,720
Patna ₹1,56,810 ₹1,43,740 ₹1,17,620
Jaipur ₹1,56,910 ₹1,43,840 ₹1,17,720
Ahmedabad ₹1,56,810 ₹1,43,740 ₹1,17,620
Silver Prices Drop After Three Days of Stability
As for silver, prices have declined today following three consecutive days of stability. Before this three-day stable period, the price of one kilogram of silver had dropped by ₹5,000 on August 28, following six days of unchanged rates. As for today's rates, the price of one kilogram of silver in Delhi has dropped by ₹100, bringing it to ₹2,54,900. It is trading at the same price in other major metros like Mumbai and Kolkata. However, in Chennai, the price stands at ₹2,59,900, making it the most expensive among the four major metropolitan cities.
**What the Experts Say**
Gaurav Garg, Head of Research at Lemon Market Desk, notes that gold prices are under pressure following the speech by Federal Reserve official Kevin Warsh. In his address at Jackson Hole on August 28, he signaled a shift towards a tighter monetary policy. This has raised expectations of an interest rate hike during the Federal Reserve's upcoming meeting in September, thereby exerting pressure on precious metals like gold and silver. According to Garg, a surge in US bond yields and a strengthening dollar index have also contributed to this pressure. Additionally, the rise in crude oil prices—spurred by escalating tensions between the US and Iran—has further added to the pressure.
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