Gold Price Today: Gold Surges ₹2,549 to ₹1.54 Lakh; Silver Rises ₹4,420 to ₹2.33 Lakh

Gold and silver prices witnessed a sharp rise on September 3, with investors and consumers closely tracking the latest bullion rates. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold has climbed to around ₹1.54 lakh per 10 grams, while silver has reached approximately ₹2.33 lakh per kilogram.

Internationally, gold also gained on Thursday as the US dollar and Treasury yields eased, while markets awaited the latest US employment data for clues about the Federal Reserve's interest-rate outlook.

Gold Becomes ₹21,000 Costlier in 2026

Gold has experienced significant volatility during 2026. Based on the rates cited above, 24-carat gold has become around ₹21,000 more expensive compared with its December 31, 2025 level of approximately ₹1.33 lakh per 10 grams.

The precious metal has also moved through a wide trading range this year, touching a reported record level of around ₹1.76 lakh per 10 grams on January 29 before correcting from that peak.

IBJA describes its published rates as India's benchmark gold and silver rates, with daily opening and closing prices available for different purities.

Silver Price Today

Silver has also remained highly volatile. The price cited for September 3 is around ₹2.33 lakh per kilogram.

Silver had reached a much higher level of around ₹3.86 lakh per kilogram earlier this year before undergoing a substantial correction. The latest move therefore represents a rebound from those lower levels.

Global silver prices were also higher on September 3, with Reuters reporting spot silver up around 0.7% at $65.79 an ounce.

Why Gold Prices Change Across Indian Cities

Gold jewellery prices can differ between cities even when benchmark bullion rates are similar. Key factors include:

Transportation and security costs: Moving bullion between locations involves logistics, insurance and security expenses.

Local demand and supply: Demand conditions can influence the final rate quoted by local jewellers.

Local market conditions: Dealers and jewellers may quote different prices depending on local market dynamics.

Purchase and inventory costs: The price at which a jeweller acquired existing inventory can also influence the selling price.

Consumers should therefore distinguish between the IBJA benchmark rate and the final jewellery price quoted by a retailer.

3 Things to Check Before Buying Gold Jewellery

1. Look for BIS Hallmarking

Consumers should check that gold jewellery carries the required BIS hallmark and verify the hallmark details. Hallmarking helps establish the declared purity of the jewellery.

2. Check the Gold Rate and Weight

Before purchasing, verify the applicable gold rate, purity and net gold weight. Rates for 24K, 22K and 18K gold are different, and the final jewellery bill can also include taxes and making charges.

3. Compare Making Charges

Making charges can have a significant impact on the final price of jewellery. Buyers should ask the jeweller for a clear breakdown of gold value, making charges and applicable taxes before completing the purchase.

Gold and Silver Prices Remain Volatile

The latest rise in precious metals comes amid continued volatility in global markets. Reuters reported that gold recovered as the dollar weakened and US Treasury yields retreated, while investors turned their attention to US nonfarm payroll data for further clues on monetary policy.

For Indian buyers, the final retail price of jewellery may differ from benchmark bullion rates because of purity, making charges, taxes and local market conditions. Therefore, consumers should check the latest applicable rate before making a purchase.