2 weeks ago
Gold Prices Fall 0.51% in India as Fed Outlook Shifts
Gold became slightly cheaper in India on 4 September 2026.
The price of 24K gold dropped by ₹800 for every 10 grams.
Gold prices were different in each city because of local taxes and other costs.
Chennai had the highest listed price, while Delhi had the lowest.
Gold in India was also more expensive than gold in Dubai.
Comments from Federal Reserve governor Christopher Waller reduced expectations of a US rate hike.
Lower interest rates can make gold more attractive because gold does not pay interest.
Investors were also watching US jobs data, oil prices and international tensions for clues about future prices.
24K gold in India fell ₹800 to ₹155,110 per 10 grams on 4 September 2026.
22K gold stood at ₹142,184 per 10 grams, while 18K gold was ₹116,333.
Among listed cities, Chennai recorded the highest 24K price at ₹155,560 per 10 grams, while Delhi had the lowest at ₹154,840.
Indian gold prices were reported as 13.80% higher than Dubai prices, before fees, duties and taxes.
Expectations of unchanged US Federal Reserve rates supported bullion, while crude oil prices and US-Iran uncertainty applied pressure.
- Who
- Gold buyers and investors in India, along with the US Federal Reserve and market analysts.
- What
- Indian gold prices declined 0.51%, with 24K gold reaching ₹155,110 per 10 grams.
- Where
- India, including Mumbai, Chennai, Delhi, Bengaluru and other listed cities; Dubai prices were also compared.
- When
- 4 September 2026.
- Why
- Prices were influenced by changing expectations for US interest rates, movements in the dollar and Treasury yields, crude oil prices, and geopolitical uncertainty.
Forces Supporting Gold
Forces Pressuring Gold
US interest-rate expectations
Forces Supporting Gold
Reduced expectations of a US rate hike and the possibility of unchanged rates can support gold because lower interest rates increase the appeal of non-interest-bearing bullion.
Forces Pressuring Gold
The Federal Reserve’s future decision remained uncertain, and upcoming payrolls data could change expectations about interest rates.
Currency and bond-market movements
Forces Supporting Gold
Declines in the US dollar index and Treasury yields may improve gold’s appeal.
Forces Pressuring Gold
The article describes gold as trending sideways, indicating that supportive currency and yield movements had not produced a clear upward move in domestic prices.
Inflation and geopolitical risks
Forces Supporting Gold
Uncertainty linked to the US-Iran war may encourage demand for gold as a safe-haven asset.
Forces Pressuring Gold
Elevated crude oil prices were raising inflation concerns and were reported as keeping gold under pressure.
Key facts
- 24K gold price
- ₹155,110 per 10 grams in India, down ₹800 or 0.51% from the previous close.
- 22K gold price
- ₹142,184 per 10 grams, down ₹733.30 or 0.51%.
- 18K gold price
- ₹116,333 per 10 grams, down ₹600 or 0.51%.
- Highest listed city rate
- Chennai: ₹155,560 per 10 grams for 24K gold.
- Lowest listed city rate
- Delhi: ₹154,840 per 10 grams for 24K gold.
- India-Dubai comparison
- 24K gold in India was ₹18,805, or 13.80%, more expensive than in Dubai before fees, duties and taxes.
- Market outlook
- Payrolls data was expected to offer further clues about the US Federal Reserve’s interest-rate decision.
Quotes
Ponmudi R
CEO of Enrich Money and an analyst commenting on the gold-price outlook
“Macro tone stays constructive, with price needing to reclaim $4,600, while a break below immediate support could weaken the near-term structure.”
financialexpress.com
Sources
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