On Thursday, September 3, 2026, gold and silver prices declined in the domestic bullion market. Gold fell for the sixth consecutive trading session, while silver declined for the second straight session. The movement in domestic precious metal prices was attributed primarily to trends in global markets.
In Delhi’s bullion market, 24-carat gold of 99.9% purity fell by Rs 2,100 from the previous session’s level of Rs 1,58,200 per 10 grams to around Rs 1,56,100 per 10 grams. This was the lowest level in about three weeks.
Gold prices have declined sharply in recent trading sessions. Over the past six trading sessions, the price of the precious metal has fallen by around Rs 11,000 per 10 grams in total. On August 25, 2026, gold was trading at around Rs 1,67,100 per 10 grams. It subsequently declined and reached around Rs 1,56,100 per 10 grams on September 3.
Gold prices are influenced by factors including global market trends, movements in the US dollar, interest rate expectations and investor sentiment.
Silver also recorded a sharp decline in the domestic bullion market. Its price fell by Rs 5,000 per kilogram in a single trading session. Silver had closed at Rs 2,40,500 per kilogram in the previous trading session, while its price declined to Rs 2,35,500 per kilogram on September 3. This represented a decline of around 2%.
This was the second consecutive trading session in which silver prices declined. Silver is used not only in jewellery but also in electronics, solar panels and other industrial sectors. Its price is therefore influenced by both investment and industrial demand.
Gold prices recorded a slight increase in international markets, in contrast to the domestic market. Internationally, gold was trading at $4,303.12 per ounce, up $25.24, or around 0.58%.
Silver prices, however, remained under pressure. In international markets, silver declined by around 1% to $63.64 per ounce.
Silver also remained under pressure in the domestic futures market, the Multi Commodity Exchange (MCX). On MCX, silver was trading at Rs 2,33,600 per kilogram, down Rs 1,841, or around 1%.
Gold and silver prices may continue to fluctuate. Expectations regarding interest rates in international markets, the strength of the US dollar, global economic data and geopolitical developments can play an important role in determining the direction of precious metal prices. Gold is traditionally considered a safe investment option during periods of economic and global uncertainty, although its prices do not always move in the same direction. In silver, both investment and industrial demand play an important role.
