Archive · 3 Sep 2026
Indian Gold Rebounds After Sharp September 2 Decline
Gold prices in India went up on September 3, 2026.
Pure, or 24-karat, gold cost ₹153,900 for 10 grams.
That was ₹1,160 more than the reported previous close.
The rise came after gold prices had fallen sharply the day before.
A weaker US dollar and lower government bond yields helped gold become more attractive.
Many traders still expected the Federal Reserve to raise interest rates.
Chennai had the highest listed price among the cities shown, while Delhi had the lowest.
Indian gold was also more expensive than gold in Dubai before extra charges were included.
An analyst said prices could keep rising in the short term, but economic data will be important.
India’s 24-karat gold price rose 0.76% to ₹153,900 per 10 grams on September 3, 2026.
The increase followed a September 2 decline of ₹1,500, when 24-karat gold was reported at ₹150,380 per 10 grams.
On September 3, Chennai recorded the highest listed 24-karat price at ₹154,350, while Delhi had the lowest at ₹153,630.
Indian 24-karat gold was ₹17,595, or 12.91%, more expensive than Dubai gold before fees, duties and taxes.
A softer US dollar and lower Treasury yields supported gold, although traders still largely expected a Federal Reserve rate hike.
- Who
- Gold investors, Indian jewellers and markets were affected; Jigar Trivedi of IndusInd Securities provided the outlook.
- What
- Indian gold prices rebounded, with 24-karat gold reaching ₹153,900 per 10 grams and rising 0.76%.
- When
- September 3, 2026, following a reported decline on September 2; payroll reports were identified as upcoming market drivers.
- Where
- India, with prices listed for Mumbai, Chennai, Delhi, Bengaluru and other cities; Dubai was used for comparison.
- Why
- A softer US dollar and lower US Treasury yields supported gold, while expectations of a Federal Reserve rate hike remained a potential restraint.
Downside Pressures
Recovery Outlook
Near-term direction
Downside Pressures
The September 2 report said gold could remain range-bound or continue downward because of higher crude prices, a firm dollar and increased Federal Reserve rate-hike expectations.
Recovery Outlook
The September 3 report said gold could extend its gains because the dollar softened and US Treasury yields fell.
Interest-rate expectations
Downside Pressures
The September 2 report said about 70% of traders expected a 25-basis-point Federal Reserve hike, which could reduce demand for gold.
Recovery Outlook
The September 3 report said some market participants reduced their rate-hike expectations after Donald Trump said the latest attacks on Iran would be short-lived, although most traders still expected a 25-basis-point hike.
Analyst outlook
Downside Pressures
Jigar Trivedi previously identified ₹151,000 per 10 grams as daily support and expected a downward trajectory for MCX Gold October futures.
Recovery Outlook
Trivedi later said MCX Gold October futures could appreciate for a second consecutive session, calling the outlook positive with ₹152,000 support and ₹153,000 resistance.
- 24-karat India price
- ₹153,900 per 10 grams on September 3, 2026
- 22-karat India price
- ₹141,075 per 10 grams
- 18-karat India price
- ₹115,425 per 10 grams
- Daily move
- 24-karat gold rose ₹1,160, or 0.76%, from the reported previous close
- Highest listed city price
- Chennai: ₹154,350 per 10 grams for 24-karat gold
- Lowest listed city price
- Delhi: ₹153,630 per 10 grams for 24-karat gold
- India-Dubai difference
- India was reported to be ₹17,595, or 12.91%, more expensive than Dubai before fees, duties and taxes
- Analyst levels
- Jigar Trivedi identified ₹153,000 per 10 grams as intraday resistance and ₹152,000 as support for MCX Gold October futures