New Delhi/Patna: Gold and silver prices fell again on September 2, extending their decline for a second consecutive day. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell Rs 1,855 to Rs 1,51,328 per 10 grams, while silver declined Rs 2,059 to Rs 2.28 lakh per kg.
The latest fall follows a sharper decline on September 1, when gold prices dropped Rs 2,652 and silver fell Rs 6,780.
According to the figures provided, gold has become cheaper by around Rs 4,500 in two days, while silver has declined by approximately Rs 9,000.
Gold rates by purity
The rates shown in the attached market data are:
| Purity | Price per 10g | ||
| 24-carat | Rs 1,51,328 | ||
| 22-carat | Rs 1,38,616 | ||
| 18-carat | Rs 1,13,496 | ||
| 14-carat | Rs 88,527 | ||
These are bullion rates and may differ from the final price paid at a jewellery shop after taxes, making charges and other applicable costs.
Gold prices in major cities
The latest 24-carat gold rate for 10 grams varies slightly across major cities:
| City | 24-carat gold, 10g |
| Delhi | Rs 1,52,170 |
| Mumbai | Rs 1,52,020 |
| Kolkata | Rs 1,52,020 |
| Jaipur | Rs 1,52,170 |
| Bhopal | Rs 1,52,070 |
| Patna | Rs 1,52,070 |
| Lucknow | Rs 1,52,170 |
| Raipur | Rs 1,52,020 |
| Ahmedabad | Rs 1,52,070 |
Gold remains below January peak
Gold prices have fluctuated sharply this year.
On December 31, 2025, 10 grams of gold were priced at around Rs 1.33 lakh, according to the figures provided. The price subsequently reached a peak of Rs 1.76 lakh on January 29.
At the September 2 rate of Rs 1.51 lakh, gold is around Rs 24,000 below its January peak.
Silver has seen an even steeper decline. Its price stood at Rs 2.28 lakh per kg on December 31, 2025, before reaching an all-time high of Rs 3.86 lakh on January 29.
At the latest rate, silver is around Rs 1.58 lakh below that peak.
Why gold prices differ across cities
Gold prices can vary between cities even when benchmark bullion rates are the same. Several factors contribute to the difference.
Transportation and security: The cost of transporting gold between cities, including fuel and security expenses, can affect local prices.
Purchase volumes: High consumption in South India, estimated at around 40% in the source material, leads jewellers to make bulk purchases. However, the resulting discounts may not necessarily be fully passed on to consumers.
Local jewellery associations: City and state jewellery associations may determine local rates based on prevailing supply and demand conditions.
Old stock and purchase price: Jewellers may price existing inventory based on the rate at which the stock was originally purchased, meaning retail prices can differ from current bullion rates.
The attached rate card is dated September 2, 2026. The silver rate cited above is from the source information provided with the story.
