Gold, silver rates today, September 4: Prices fall after sharp recovery; check city-wise 24K, 22K rates

Gold and silver prices declined in early trade on the Multi Commodity Exchange (MCX) on Friday, September 4, amid cautious sentiment ahead of key US economic data and growing expectations around the Federal Reserve’s monetary policy.

MCX gold October futures were down 0.47% at ₹1,55,041 per 10 grams, while MCX silver December contracts declined 0.48% to ₹2,41,189 per kg at the time of writing.

According to Bullions.co.in, gold was trading at ₹1,55,430 per 10 grams, down ₹770, or 0.49%, while silver stood at ₹2,40,310 per kg, declining ₹1,680, or 0.69%. The rates were last updated at 9:20 AM on Friday, September 4, 2026.

Gold rate today in India

The 24-karat gold rate stood at ₹15,543 per gram or ₹1,55,430 per 10 grams. The rate for 22-karat gold was ₹14,248 per gram or ₹1,42,480 per 10 grams. Gold prices can vary across cities depending on local taxes, demand, and other applicable charges.

Gold rates across major Indian cities

Gold rates across major Indian cities for 10 grams show that 24K gold is priced at ₹1,55,360 in Chennai, Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune, while Delhi records a slightly higher rate of ₹1,55,510. For 22K gold, the rate stands at ₹1,42,410 in most cities and ₹1,42,560 in Delhi. Meanwhile, 18K gold is priced at ₹1,20,110 in Chennai, ₹1,16,520 in Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune, and ₹1,16,670 in Delhi. These rates are indicative and may vary depending on taxes, making charges and other applicable costs.

The sharp swings in precious metals over the past two sessions highlight the market's sensitivity to US interest-rate expectations. Gold rebounded strongly on Thursday after weaker-than-expected private employment data pressured the dollar and Treasury yields, but prices turned lower again in early Friday trade. The focus has now shifted to the US nonfarm payrolls report, which could provide fresh clues about the Federal Reserve's policy path. A weaker jobs reading could reinforce expectations of easier monetary policy and support gold, while stronger-than-expected employment data could lift the dollar and yields, putting renewed pressure on bullion prices.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Investors should do their own research or consult a registered financial advisor before making investment decisions.