Archive · 2 Sep 2026
Gold Prices Fall Further Amid US-Iran Tensions and Rate Fears
Gold became cheaper in India on September 2, 2026.
The listed price for pure, or 24-carat, gold was Rs 15,202 per gram.
The listed 22-carat price was Rs 13,935 per gram.
The 18-carat price was Rs 11,402 per gram.
All three prices were lower than the previous day.
Gold also fell on the Multi Commodity Exchange.
Tensions involving the United States and Iran increased worries about inflation.
Those worries can make investors expect higher interest rates, which can reduce demand for gold.
One article gave a different 22-carat figure of Rs 13,395, but its later figures and the other report said Rs 13,935.
On September 2, 2026, Indian gold prices continued to decline across 24K, 22K and 18K categories.
Reported prices were Rs 15,202 per gram for 24K gold, Rs 13,935 for 22K gold and Rs 11,402 for 18K gold.
The 24K rate fell by Rs 207, while 22K and 18K prices reportedly dropped by Rs 190 and Rs 155, respectively.
Gold prices on the Multi Commodity Exchange declined more than 0.7% and opened at Rs 1.50 lakh per 10 grams.
Escalating US-Iran tensions and the wider Middle East conflict pushed up oil prices, raising inflation and interest-rate concerns.
- Who
- Gold markets in India, with prices reported by Goodreturns; the reports also cite the United States and Iran in connection with the tensions.
- What
- Gold prices fell across 24K, 22K and 18K categories, while global prices reached their lowest level in more than three weeks.
- When
- September 2, 2026.
- Where
- India, including Delhi, Mumbai, Kolkata, Chennai, Lucknow and other major cities; global prices were also affected.
- Why
- Escalating US-Iran and wider Middle East tensions lifted oil prices and increased inflation and interest-rate hike concerns.
- 24K gold price
- Rs 15,202 per gram; reportedly down Rs 207 from September 1.
- 22K gold price
- Rs 13,935 per gram; reportedly down Rs 190 from September 1.
- 18K gold price
- Rs 11,402 per gram; reportedly down Rs 155 from September 1.
- Multi Commodity Exchange
- Gold declined by more than 0.7% and opened at Rs 1.50 lakh per 10 grams.
- Global gold price
- Fell to its lowest level in more than three weeks.
- Price discrepancy
- One article initially reported the 22K price as Rs 13,395, but later stated Rs 13,935, matching the other report.
- Purity levels
- 24K was described as 99.9% pure, 22K as 91.6% pure and 18K as 75% pure.
