Gold And Silver Prices Today, September 3, 2026: Check Rates In Mumbai, Delhi, Bengaluru And Chennai
3 min read
Precious metal prices saw an uptick during Thursday morning trade on the Multi Commodity Exchange (MCX) on September 3, bouncing back after a period of selling pressure.
Key Takeaways
- Gold futures for October delivery rose Rs 1,823 (1.2%) to Rs 1,54,225 per 10 grams on MCX on September 3.
- Silver futures for December delivery climbed Rs 3,213 (1.36%) to Rs 2,39,479 per kg.
- Retail 24K gold traded around Rs 1,53,020 per 10 grams and 22K gold at Rs 1,40,268, with pure silver near Rs 2,36,020 per kg.
- Chennai recorded the highest 24K gold prices among Mumbai, Delhi, Bengaluru and Chennai, while Delhi recorded the lowest.
Gold futures for October expiry climbed by ₹1,823, or 1.2%, reaching ₹1,54,225 per 10 grams by approximately 10:20 am, up from the previous closing price of ₹1,52,402.
Similarly, silver futures for December expiry rose by ₹3,213, or 1.36%, hitting ₹2,39,479 per kg, compared to the earlier close of ₹2,36,266.
In the retail sector, 24K gold was trading at roughly ₹1,53,020 per 10 grams, while 22K gold was valued at ₹1,40,268. Pure silver (999 fine) was priced at approximately ₹2,36,020 per kg.
Current Gold Rates in Mumbai, Delhi, Bengaluru, and Chennai
Recent city-specific data indicates that Chennai saw the highest prices for 24K gold, while Delhi recorded the lowest among the four major cities.
| City | 24K Gold (10 gm) | 22K Gold (10 gm) | Silver 999 (1 kg) |
|---|---|---|---|
| Mumbai | ₹1,52,740 | ₹1,40,012 | ₹2,35,590 |
| Delhi | ₹1,52,480 | ₹1,39,773 | ₹2,35,190 |
| Bengaluru | ₹1,52,860 | ₹1,40,122 | ₹2,35,780 |
| Chennai | ₹1,53,190 | ₹1,40,424 | ₹2,36,280 |
These figures reflect the latest bullion rates for September 3 and may vary depending on the jeweler.
Drivers Behind the Rise in Gold and Silver Prices
The current surge in precious metals is primarily driven by a softening US dollar and a decline in US Treasury yields. A weaker dollar makes gold more affordable for international buyers, while lower yields reduce the cost of holding assets that do not pay interest.
1. Depreciation of the US Dollar
The dip in the US dollar has provided a boost to both gold and silver. Because these metals are priced globally in dollars, a weaker greenback typically increases accessibility for buyers using other currencies.
2. Falling US Bond Yields
As US Treasury yields retreat from their peaks, precious metals become more attractive investment options compared to interest-bearing bonds.
3. Soft US Employment Figures
Recent private-sector employment data suggests a potential slowdown in the US labor market. Investors are now awaiting Friday’s nonfarm payrolls report for further insight into the Federal Reserve’s future interest rate decisions.
4. Global Geopolitical Tension
Ongoing uncertainty in West Asia has maintained gold and silver’s status as safe-haven assets. Market participants remain watchful of how these tensions affect inflation, oil prices, and monetary policies.
Future Outlook for Bullion
The trajectory of gold and silver prices will likely depend on upcoming US jobs data, fluctuations in the dollar, and movements in Treasury yields.
Following a period of selling pressure, Thursday’s recovery indicates a return of buying interest. However, volatility may persist as the market reacts to Federal Reserve policy shifts and new economic indicators from the US.
In Mumbai, gold prices showed a notable jump on Thursday, with 24K gold reaching approximately ₹1.54 lakh per 10 grams according to the most recent data.
