Gold prices by carat
On Tuesday, September 2, 2025, the price of gold and silver increased. The India Bullion and Jewelers Association (IBJA) reports that gold prices increased by ₹169 from the previous close of ₹1,04,493 to ₹1,04,662 per 10 grams.
Additionally, the price of silver increased by ₹481, from ₹1,22,800 per kilogram to ₹1,23,281 per kilogram.
Major city gold prices also fluctuated, with 24-carat gold prices topping ₹1.06 lakh in Delhi, Mumbai, Kolkata, Chennai, and Bhopal.
The price of silver skyrocketed as well, going up Rs 1,000 to a new high of Rs 1,26,000 per kilogram (including all taxes). The price of silver increased from Rs 6,000 to Rs 1,25,000 per kilogram on Saturday.
Due in large part to industrial demand for electronics and sustainable energy, silver reached a record high in domestic markets, with speculative interest driving prices considerably higher. According to Trivesh D., Chief Operating Officer at Tradejini, the US Geological Survey’s proposal to designate silver as a key mineral has generated more momentum.
In morning trading, gold futures for October delivery on the Multi Commodity Exchange (MCX) jumped Rs 2,113, or 2.03%, to a record high of Rs 1,05,937 per 10 kilos. Gold futures for December increased from Rs 1,682 to Rs 1,06,539 per 10 kilos. Additionally, silver December futures increased by Rs 3,117, or 2.5%, to Rs 1,24,990 per kilogram.
Rising geopolitical tensions and the declining value of the rupee globally have increased the appeal of gold as a safe haven. On the MCX, gold has surpassed Rs 1.05 lakh per 10 grams, while silver is getting close to Rs 1.25 lakh per kg. These are some of the highest prices Indian consumers have witnessed in over ten years, Trivesh D continued.
The price of gold in four important cities
- Delhi: ₹1,06,240 for 24 carats and ₹97,400 for 22 carats
- Mumbai: ₹1,06,090 for 24 carats and ₹97,250 for 22 carats
- Kolkata: ₹1,06,090 for 24 carats and ₹97,250 for 22 carats
- Chennai: ₹1,06,090 for 24 carats and ₹97,250 for 22 carats
- Bhopal: ₹97,300 for 22 carats and ₹1,06,140 for 24 carats
Causes of Increasing Gold Prices
- Global Uncertainty: Investors are gravitating into gold due to concerns about a trade war brought on by Trump’s tariff measures.
- Central Bank Buying: Russia and China are among the nations that are buying substantial gold reserves.
- War & Tension: Gold is now a safer investment due to the Russia-Ukraine war.
- Interest rates and inflation: Concerns about inflation and low US interest rates are fueling demand for gold.
- Rupee Depreciation: Domestic prices have increased as a result of the rupee’s decline vs the dollar.
According to Kaynat Chainwala, AVP Commodity Research at Kotak Securities, “spot gold continued its climb, supported by anticipation of a September rate cut, mounting uncertainty over President Donald Trump’s tariff plans, and the escalating dispute between the Fed and the Trump administration.”
