Archive · 3 Sep 2026
Gold and Silver Rebound in India After September 2 Decline
Gold and silver prices in India went down on 2 September and went up on 3 September.
On 3 September, 24-karat gold cost between ₹153,590 and ₹154,240 per 10 grams in the listed cities.
Twenty-two-karat gold, which is often used for jewellery, also became more expensive.
Silver prices increased in the domestic market as well.
Gold prices on the MCX exchange rose by 0.81%.
International gold prices also recovered after reaching their lowest level in more than three weeks.
The earlier drop was linked to higher oil prices, rising Treasury yields, and worries about interest rates.
The later increase came as the US dollar and Treasury yields weakened while investors awaited US jobs data.
Indian retail gold and silver prices fell on 2 September but rose marginally on 3 September.
On 3 September, 24-karat gold ranged from ₹153,590 to ₹154,240 per 10 grams across six listed cities.
On 3 September, 22-karat gold ranged from ₹140,791 to ₹141,387 per 10 grams.
MCX gold rose 0.81% to ₹154,260 per 10 grams on 3 September, while silver futures gained 0.92% to about ₹238,180 per kilogram.
International gold rose to $4,409.97 per ounce on 3 September as the US dollar and Treasury yields eased, after falling to $4,304.01 on 2 September.
- Who
- Indian retail bullion markets, MCX traders, international precious-metals investors, and US and Iranian officials mentioned in the reports.
- What
- Gold and silver prices declined on 2 September and rose on 3 September in Indian retail and exchange markets.
- When
- Tuesday and Wednesday, 2–3 September, with MCX figures reported at around 9:13 am on each day.
- Where
- Major Indian cities including New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai, as well as international markets.
- Why
- The 2 September decline was associated with higher oil prices, rising US Treasury yields, inflation concerns, and fears of a Federal Reserve rate hike. The 3 September recovery followed a weaker US dollar and lower Treasury yields, while investors awaited US nonfarm payrolls data.
Factors Behind the September 2 Decline
Factors Behind the September 3 Recovery
Market drivers
Factors Behind the September 2 Decline
The reports linked the decline to escalating US-Iran hostilities, higher oil prices, rising US Treasury yields, inflation concerns, and fears of a Federal Reserve rate hike.
Factors Behind the September 3 Recovery
The reports linked the recovery to a weaker US dollar and easing Treasury yields, which made dollar-priced metals less expensive for holders of other currencies.
Investor focus
Factors Behind the September 2 Decline
Investors faced concerns that higher oil prices could increase inflation and affect expectations for US interest rates.
Factors Behind the September 3 Recovery
Investors awaited US nonfarm payrolls data for clues about the Federal Reserve’s next policy move.
Price direction
Factors Behind the September 2 Decline
Indian retail gold and silver prices and MCX contracts declined on 2 September; international spot gold fell to $4,304.01 per ounce.
Factors Behind the September 3 Recovery
Indian retail gold and silver prices and MCX contracts rose on 3 September; international spot gold increased to $4,409.97 per ounce.
- New Delhi 24K gold, 3 September
- ₹153,690 per 10 grams
- Mumbai 24K gold, 3 September
- ₹153,950 per 10 grams
- Kolkata 24K gold, 3 September
- ₹153,590 per 10 grams
- New Delhi 999 silver, 3 September
- ₹237,240 per kilogram
- MCX gold, 3 September
- ₹154,260 per 10 grams, up 0.81%
- MCX silver futures, 3 September
- About ₹238,180 per kilogram, up 0.92%
- International spot gold, 3 September
- $4,409.97 per ounce, up 0.5% by 0219 GMT
