Gold and silver prices showed mixed movement in the Indian market on Wednesday, September 2, 2026. While gold futures witnessed some volatility and remained largely stable after an early decline, silver futures recorded a strong upward move during morning trade.

For consumers planning to purchase gold jewellery, coins, bars or silver, checking the latest rates before visiting the market can be useful. Precious metal prices can change frequently due to movements in international markets, currency fluctuations, investor demand and domestic trading activity.

On the Multi Commodity Exchange (MCX), gold initially slipped by around ₹200 before recovering from its early losses. Silver, meanwhile, outperformed gold and registered a notable rise in futures trading.

Gold Futures Recover After Weak Opening on MCX

Gold futures for October delivery had settled at ₹1,54,460 per 10 grams in the previous trading session. The contract opened lower at ₹1,54,304 per 10 grams on Wednesday.

During the initial trading period, October gold touched a low of ₹1,54,251 and climbed to an intraday high of ₹1,54,741 per 10 grams.

By around 9:20 am, the contract had recovered significantly and was trading ₹188 higher at ₹1,54,648 per 10 grams.

The movement indicated that although sellers dominated the market briefly after the opening bell, buying interest helped gold recover quickly.

Other gold futures contracts displayed mixed trends. Gold scheduled for December delivery gained ₹356 to reach ₹1,55,840 per 10 grams. In comparison, the February delivery contract declined by ₹95 and was trading at ₹1,57,300 per 10 grams.

Silver Futures Record Strong Gains

Silver witnessed much stronger buying momentum than gold in the futures market.

The December silver futures contract had closed at ₹2,40,121 per kilogram in the previous session. It opened higher at ₹2,40,425 per kilogram and continued to strengthen during early trading.

The contract touched a low of ₹2,40,338 per kilogram before rising to as much as ₹2,41,800.

At approximately 9:28 am, December silver futures were trading ₹1,530 higher at ₹2,41,651 per kilogram.

The September delivery contract also recorded significant gains. It climbed by ₹1,699 to reach ₹2,35,540 per kilogram.

The early trading data therefore showed a clear contrast between the two precious metals, with silver recording sharper gains while gold experienced relatively limited movement.

Gold Rates Rise Marginally in the Physical Market

Gold prices in the physical bullion market also registered a modest increase. Based on the available rates, 24-carat gold was priced at ₹1,56,930 per 10 grams after an increase of ₹160.

The price of 22-carat gold rose by ₹150 to ₹1,43,850 per 10 grams, while 18-carat gold gained ₹120 to reach ₹1,17,700 per 10 grams.

Silver, however, showed a different trend in the physical market. Its price stood at ₹2,50,000 per kilogram after falling by ₹5,000.

This means silver moved in opposite directions across the two markets during the period under review. While futures contracts on MCX registered strong gains, physical silver prices were quoted lower.

Gold Price Today in Delhi, Jaipur, Lucknow and Other Cities

Gold rates vary slightly between cities due to factors such as local taxes, transportation expenses, dealer margins and other market-related costs.

According to the available city-wise prices, 24-carat gold was quoted at around ₹15,708 per gram in Delhi, Jaipur, Lucknow, Chandigarh, Ayodhya, Gurugram, Ghaziabad, Noida, Kanpur, Ludhiana, Amritsar, Varanasi and Agra.

In these cities, 22-carat gold was priced at approximately ₹14,400 per gram, while 18-carat gold was available at around ₹11,788 per gram.

Another group of cities reported slightly lower rates. In Vadodara, Ahmedabad, Patna, Rajkot, Indore and Bhopal, 24-carat gold was quoted at nearly ₹15,698 per gram. The price of 22-carat gold stood at around ₹14,390 per gram, while 18-carat gold was approximately ₹11,778 per gram.

Gold Rates in Mumbai, Chennai, Kolkata and Bengaluru

In several major markets, including Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Pune, Vijayawada, Nagpur, Bhubaneswar, Mangaluru, Visakhapatnam, Aurangabad, Solapur, Kolhapur, Kochi, Thane and Goa, the price of 24-carat gold was around ₹15,693 per gram.

Similar rates were also reported in Kerala and several other markets.

Prices were slightly different across a number of cities in Tamil Nadu. In Salem, Vellore, Tiruppur, Tirunelveli, Erode, Thanjavur, Nagercoil, Karur, Kumbakonam, Namakkal, Dharmapuri, Dindigul, Thoothukudi, Cuddalore, Kanchipuram, Krishnagiri, Villupuram, Kovilpatti, Theni, Tiruvannamalai, Hosur, Karaikudi and Pudukkottai, 24-carat gold was quoted at approximately ₹15,676 per gram.

What Gold and Silver Buyers Should Keep in Mind

The September 2 trading session highlighted differing trends across the precious metals market. Gold remained comparatively steady after recovering from its early decline, while silver futures attracted stronger buying interest.

However, retail buyers should remember that quoted bullion rates do not always represent the final amount payable at a jewellery store. The actual purchase price of gold jewellery can include making charges, applicable taxes and other costs.

Rates can also change during the day. Buyers planning a major purchase may therefore want to confirm the latest price with their local jeweller before completing a transaction. For gold jewellery, checking purity, hallmarking and the final price breakup can also help buyers make a more informed decision.