Gold prices remained under pressure on Wednesday, September 2, with the yellow metal extending its decline amid heightened volatility in global markets and renewed concerns over the impact of US-Iran tensions on crude oil prices and inflation.
Gold futures on the Multi Commodity Exchange (MCX) fell for the seventh consecutive session. October gold futures declined Rs 1,559, or 1.03 per cent, to Rs 1,50,170 per 10 grams, compared with Tuesday’s close of Rs 1,51,729. December futures also fell Rs 1,753, or 1.14 per cent, to Rs 1,51,540 per 10 grams.
The decline in gold comes as rising crude oil prices and concerns over inflation have made investors cautious. Higher energy prices could keep inflation elevated and influence expectations around interest rates, putting pressure on bullion prices.
Gold rate today in Delhi
The price of 24K gold in Delhi stood at around Rs 1,50,090 per 10 grams, while 22K gold was priced at Rs 1,37,583 per 10 grams.
Gold rate today in Mumbai
In Mumbai, 24K gold was available at around Rs 1,50,350 per 10 grams, while 22K gold stood at Rs 1,37,821 per 10 grams.
On September 2, 2026, gold and silver are down today.
- 24K gold: ₹1,54,230 per 10g, down ₹2,530 from September 1.
- 22K gold: ₹1,41,390 per 10g.
- Silver: ₹2,27,000 per kg, down ₹3,000 from ₹2,30,000 yesterday, according to Bussiness.
Gold rate today in Chennai
In Chennai, 24K gold was priced at around Rs 1,50,790 per 10 grams, while 22K gold stood at Rs 1,38,224 per 10 grams.
| City | 24K gold/10g | 22K gold/10g |
|---|---|---|
| Delhi | Rs 1,50,090 | Rs 1,37,583 |
| mumbai | Rs 1,50,350 | Rs 1,37,821 |
| Chennai | Rs 1,50,790 | Rs 1,38,224 |
Gold prices can vary between jewellers and markets depending on local premiums, taxes and other charges. The rates above are indicative market rates and do not include jewellery making charges.
Why are gold prices falling?
Gold futures have been under pressure for seven consecutive sessions. Rising crude oil prices amid renewed US-Iran military tensions have raised concerns about inflation and interest rates. Investors are also watching upcoming US economic data for clues about the Federal Reserve’s monetary policy.
International gold prices have also declined, with Comex gold futures falling for a fourth straight session. The pressure on global bullion markets has added to the decline in domestic gold prices.
For jewellery buyers, however, the retail price can differ from the quoted bullion rate because of GST and making charges. Buyers should check the latest rate with their jeweller before making a purchase.