Gold and silver prices: The price of the yellow metal in India's retail market declined on Friday, 4 September, amid ongoing uncertainty over the US-Iran conflict, with the European Union joining the US-led ‘Operation Economic Outcast’ as Iran cries foul.
US Treasury Secretary Scott Bessent praised the European Union for formally joining “Operation Economic Outcast,” the US-led sanctions campaign aimed at severing Tehran from the global financial system, as Washington widens its war to include economic pressure, according to a CNBC US report.
In the international markets, gold held steady on Friday and was poised for a small weekly gain, as attention turned to highly awaited US payrolls data for clues on the Federal Reserve’s next interest rate decision.
Spot gold held its ground at $4,477.10 per ounce, as of 0211 GMT. Prices jumped 2% on Thursday as traders scaled back expectations for a September rate hike after Fed Governor Christopher Waller said he would support leaving rates unchanged if data continued to show inflation pressures moderating.
Due to these developments, both 24-karat and 22-karat gold rates are showing a marginal decline across major cities in India. Silver prices also declined in the domestic bullion market.
MCX gold rate on 4 September was trading 0.38% lower at ₹155,610 per 10 grams. MCX silver futures were trading about 0.59% lower at ₹240,560 per kg at around 9:13 am.
Changes in gold and silver prices today
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it is more durable.
Here's a look at the latest gold prices across major Indian cities on 4 September.
Gold Prices in New Delhi — 4 September
24 karat gold rate in New Delhi — ₹154,880/10 gm
22 karat gold rate in New Delhi — ₹141,973/10 gm
Silver 999 Fine rate in New Delhi — ₹239,750/1 kg
Gold Prices in Mumbai — 4 September
24 karat gold rate in Mumbai — ₹155,150/10 gm
22 karat gold rate in Mumbai — ₹142,221/10 gm
Silver 999 Fine rate in Mumbai — ₹240,160/1 kg
Gold Prices in Bengaluru — 4 September
24 karat gold rate in Bengaluru — ₹155,270/10 gm
22 karat gold rate in Bengaluru — ₹142,331/10 gm
Silver 999 Fine rate in Bengaluru — ₹240,350/1 kg
Gold Prices in Kolkata — 4 September
24 karat gold rate in Kolkata — ₹154,940/10 gm
22 karat gold rate in Kolkata — ₹142,028/10 gm
Silver 999 Fine rate in Kolkata — ₹239,850/1 kg
Gold Prices in Hyderabad — 4 September
24 karat gold rate in Hyderabad — ₹155,390/10 gm
22 karat gold rate in Hyderabad — ₹142,441/10 gm
Silver 999 Fine rate in Hyderabad — ₹240,250/1 kg
Gold Prices in Chennai — 4 September
24 karat gold rate in Chennai — ₹155,600/10 gm
22 karat gold rate in Chennai — ₹141,387/10 gm
Silver 999 Fine rate in Chennai — ₹238,250/1 kg
