Business Desk – Gold Silver Price Today: The trend of falling prices of gold and silver continues on Wednesday i.e. 2 September 2026. Last week, there were a lot of fluctuations in both the precious metals, but since the beginning of this week, there has been pressure on Gold and Silver prices.
Gold prices have also weakened in the international market. In the domestic market, gold on MCX is trading around Rs 1,51,699 per 10 grams, while silver has also declined to the level of around Rs 2.26 lakh per kg.
Gold on COMEX around $4,300
A sharp fall in the price of gold is also being seen on the international commodity market COMEX. On Wednesday, gold came around $ 4,300 an ounce. Spot gold fell 0.6% to $4,302.99 an ounce, while gold futures for December delivery fell about 1.1%, according to Reuters. Silver also recorded a decline of about 0.9%.
According to Bullions.co.in data in India, on the morning of September 2, the price of 24 carat gold was around Rs 1,52,160 per 10 grams. There has been a decline of about 5.57% compared to last week. Whereas silver of 999 purity was at around Rs 2,34,780 per kg.
Gold and silver also under pressure on MCX
Domestic Commodity Market i.e. MCX is also under selling pressure in both the precious metals. According to the latest data available, MCX Gold was trading at around Rs 1,50,065 per 10 grams with a decline of around 1.10%. Whereas MCX Silver was at around Rs 2,32,240 per kg and it was down by around 1.36%.
On Tuesday, gold on MCX was at the level of Rs 1,51,699 per 10 grams. Whereas the price of silver was around Rs 2,35,200 per kg. That means the pressure on both the precious metals has increased further on Wednesday.
24K, 22K and 18K gold price in big cities
Talking about cities, on Wednesday in Chennai, the price of 24 carat gold was Rs 15,463 per gram, 22 carat Rs 14,174 per gram and 18 carat gold was Rs 11,944 per gram. In Mumbai, 24 carat gold is Rs 15,408, 22 carat Rs 14,124 and 18 carat Rs 11,556 per gram.
In Delhi, 24 carat gold is around Rs 15,423 per gram, 22 carat is Rs 14,139 and 18 carat is Rs 11,571 per gram. In Kolkata and Bengaluru, 24 carat gold is around Rs 15,408, 22 carat Rs 14,124 and 18 carat gold is around Rs 11,556 per gram. These are retail rates and the final price may vary depending on jewellers' making charges, GST and local market.
Silver is also becoming cheaper continuously
Along with gold, the price of silver also remains weak. According to Goodreturns, the price of silver on September 2 was said to be around Rs 2,49,900 per kg. There may be a slight difference in the price according to the local market in different cities.
The price of silver on MCX is different because MCX price is based on Futures Contract. Therefore, it is normal for there to be a difference in the prices seen in Jewelery Market, Bullion Market and MCX.
After all, why the decline in gold and silver?
Many global factors are currently influencing the prices of gold and silver. Crude oil prices have increased due to increasing tension between America and Iran. This has increased concerns about inflation in the market. Additionally, US bond yields and the strengthening of the dollar have also put pressure on non-yielding assets like gold.
The market is now eyeing America's employment data. The upcoming employment data may indicate what stance the US Federal Reserve may take on interest rates going forward. If inflation and employment data strengthen the possibility of increasing interest rates, then there may be further pressure on gold.
Investors also keep an eye on Fed's decision
The Federal Reserve Meeting to be held in September is also important for the Gold Market. At present, there is increased uncertainty in the market regarding American interest rates. Investors are changing their strategies based on comments from Fed officials and economic data.
That means at present the environment is not completely clear for gold and silver. On one side there is Geopolitical Tension, while on the other side there are concerns about inflation, dollar, bond yields and interest rates. In such a situation, the upcoming US employment data and the Fed's stance will play an important role in deciding whether the decline in Gold and Silver continues further or recovery is seen again in prices.
