Gold, Silver Rates Today, August 3: Prices Fluctuate Amid US-Iran Tensions & Fed Decisions; Check 24K, 22K Prices in Your City:

The precious metals market is witnessing extreme volatility today, August 3, as the escalating geopolitical tensions between the United States and Iran create widespread uncertainty across global markets. Safe-haven demand for bullion remains in flux, heavily influenced by broader economic factors, including shifting US Treasury yields and a firmer dollar. If you are planning to invest in bullion or purchase jewelry this week, here is the latest, comprehensive update on gold and silver prices across major Indian cities.

Global Factors: US-Iran War and Fed Rate Decisions Impact Bullion

According to the latest market reports, gold prices dipped by 1.16 per cent on a weekly basis, primarily because higher US Treasury yields and a stronger U.S. dollar capped traditional safe-haven demand. However, the bullion market briefly rallied by around 2 per cent earlier in the week after the US Federal Reserve decided to leave interest rates unchanged.

On the Multi Commodity Exchange (MCX), August gold futures gained a marginal 0.06 per cent to stand at ₹1,41,599, while September silver futures dipped 1.13 per cent to trade at ₹2,17,488 per kg. Furthermore, data published by the India Bullion and Jewellers Association (IBJA) showed that the retail price of 10 grams of 24-carat gold settled at ₹1,42,860 on Friday, down from ₹1,44,532 at Monday’s market opening.

City-Wise Gold Rates Today (August 3, 2026)

Gold pricing in India is determined by a combination of international market trends, the U.S. Dollar’s strength, and local jewelry consumption—especially around upcoming holidays. Below are the current retail rates for 1 gram of 24K, 22K, and 18K gold across major Indian cities:

24-Carat Gold Rate Per Gram in India (INR)

For buyers tracking standard industry measurements, here is the breakdown of today’s average gold prices nationwide and their marginal day-on-day changes:

What Are the Silver Rates Today?

Alongside gold, silver is experiencing its own set of fluctuations, heavily influenced by shifting industrial demand worldwide. Currently, the price of silver in India stands at ₹234.90 per gram and ₹2,34,900 per kilogram. The white metal saw a minor dip of ₹100 per kg compared to yesterday’s closing price. Despite these slight declines, silver continues to be an attractive choice for Indian investors and jewelry buyers who consume higher volumes of silver ornaments than gold.

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