Gold rates are down by Rs 186 for 24K purity, Rs 170 for 22K purity, and Rs 139 for 18K purity in comparison to September 4, 2026, rates. The drop came a day after the prices surged as traders scaled back September rate hike expectations. The predictions were made following Federal Reserve Governor Christopher Waller’s remarks regarding favouring a steady interest rate at the US central bank’s next policy meeting if inflation pressures cool. Consequently, lower US Treasury yields support the decline in the opportunity cost of holding bullion, making gold more attractive.

The expectations of a hike in Federal Reserve interest rates have, however, again picked up after the stronger-than-expected US jobs data. Such expectations weigh down the bullion, which is a non-yielding product. Thus, prices drop.

On the other hand, the ongoing conflict between the US and Iran continues to keep the bullion volatile. US President Donald Trump has reportedly threatened to strike Iran’s Pickaxe Mountain. Multiple reports suggest the biggest exchange of strikes between the two countries since July, as Washington attacked Iran’s southern coast and Tehran struck US bases.

The intensifying exchange between the US and Iran threatens the energy supply across the globe, resulting in higher prices.

Bullion in India is also going through a volatile phase as a result of the external factors.

Check Gold rates across India:

Delhi 

24K: Rs 15,495/g 

22K: Rs 14,205/g 

18K: Rs 11,625/g 

Mumbai 

24K: Rs 15,480/g 

22K: Rs 14,190/g 

18K: Rs 11,610/g 

Kolkata 

24K: Rs 15,480/g 

22K: Rs 14,190/g 

18K: Rs 11,610/g 

Ahmedabad 

24K: Rs 15,485/g 

22K: Rs 14,195/g 

18K: Rs 11,615/g 

Chennai 

24K: Rs 15,667/g 

22K: Rs 14,361/g 

18K: Rs 12,131/g 

Hyderabad 

24K: Rs 15,480/g 

22K: Rs 14,190/g 

18K: Rs 11,610/g  

Lucknow 

24K: Rs 15,495/g 

22K: Rs 14,205/g 

18K: Rs 11,625/g 

Patna 

24K: Rs 15,485/g 

22K: Rs 14,195/g 

18K: Rs 11,615/g 

Bangalore 

24K: Rs 15,480/g 

22K: Rs 14,190/g 

18K: Rs 11,610/g 

Bhopal 

24K: Rs 15,485/g 

22K: Rs 14,195/g 

18K: Rs 11,615/g 

Pune

24K: Rs 15,480/g 

22K: Rs 14,190/g 

18K: Rs 11,610/g 

Thiruvananthapuram

24K: Rs 15,480/g 

22K: Rs 14,190/g 

18K: Rs 11,610/g 

Amritsar

24K: Rs 15,495/g 

22K: Rs 14,205/g 

18K: Rs 11,625/g