7 hrs ago
Gold Prices Fall on September 2 Amid Dollar, Oil Pressures
Gold prices in India fell on September 2, 2026.
The price of pure, or 24-karat, gold was ₹150,380 for 10 grams.
This was ₹1,500 less than the previous closing price.
Chennai had the highest listed price, while Delhi had the lowest.
Indian gold was more expensive than gold in Dubai before extra costs were included.
Prices were hurt by higher oil prices and a stronger US dollar.
Investors also expected the Federal Reserve might raise interest rates.
These factors can make gold less attractive to some buyers.
An analyst said gold could continue moving downward in the short term.
India’s 24-karat gold price stood at ₹150,380 per 10 grams on September 2, 2026, down ₹1,500 from the previous close.
The article’s table reports a 0.99% decline for 24-karat, 22-karat, and 18-karat gold, although its headline cites a 1.21% fall.
Among listed cities, Chennai recorded the highest 24-karat price at ₹150,820 per 10 grams, while Delhi had the lowest at ₹150,120.
Indian gold was reported to be ₹14,075, or 10.33%, more expensive than Dubai gold, before fees, duties, and taxes.
Analysts said crude oil, a stronger US dollar, and increased expectations of a Federal Reserve rate hike could keep gold under pressure.
- Who
- Gold investors, Indian jewellers and markets were affected; analyst Jigar Trivedi provided the outlook.
- What
- Gold prices in India declined, with 24-karat gold falling to ₹150,380 per 10 grams.
- Where
- India, with prices listed for Mumbai, Chennai, Delhi, Bengaluru and other cities; Dubai prices were used for comparison.
- When
- September 2, 2026; the article also points to employment data due later that day and nonfarm payrolls data due Friday.
- Why
- Prices were pressured by a stronger US dollar, higher crude oil prices, concerns about supply disruptions through the Strait of Hormuz, and increased expectations of a Federal Reserve rate hike.
Key facts
- 24-karat India price
- ₹150,380 per 10 grams
- 22-karat India price
- ₹137,848 per 10 grams
- 18-karat India price
- ₹112,785 per 10 grams
- Daily change
- ₹1,500 lower for 24-karat gold; the table reports a 0.99% decline
- Highest listed city price
- Chennai: ₹150,820 per 10 grams for 24-karat gold
- Lowest listed city price
- Delhi: ₹150,120 per 10 grams for 24-karat gold
- India-Dubai difference
- India was reported to be ₹14,075, or 10.33%, more expensive before fees, duties and taxes
- Analyst support level
- Jigar Trivedi identified ₹151,000 per 10 grams as daily support for MCX Gold October
Quotes
Jigar Trivedi
Senior Research Analyst at IndusInd Securities
“MCX Gold October may continue with the downward trajectory as sentiment is weak in the global markets. Rs. 151,000/10g is support for the day,”
financialexpress.com
Sources
Related news
Indian Gold Prices Unchanged Amid Rising Fed Rate Hike Bets
Indian Gold Prices Rise Slightly After Previous Day’s Dip
Gold Prices Rebound in India as Dollar Weakens, Yields Shift
Gold Prices Fall Further Amid US-Iran Tensions and Rate Fears
Gold and Silver Prices Slip Across Indian Retail Markets
Gold Prices Rise Across Major Indian Cities on September 1
U.S.-Iran Exchange Escalates Across Middle East, Markets Slide
Trump Aides Seek Quiet Iran War Before Midterm Elections
US Warns Middle East Travelers Amid Escalating Iran-Linked Tensions
Indian Stocks Slide as Oil, Conflict and Yields Rise
