Gold Price Today in India: Gold prices moved lower in domestic futures trading on Monday as stronger US jobs data increased expectations that the Federal Reserve could keep interest rates higher. At the same time, rising crude oil prices and fresh geopolitical tensions kept the bullion market volatile.
The latest retail data showed 24K gold at around ₹1,54,790 per 10 grams in Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala and Pune, while Delhi quoted ₹1,54,940 and Chennai remained the most expensive among the listed cities at ₹1,56,660 per 10 grams.
Gold Price Today in India (September 7): Domestic Gold Prices
Domestic gold prices started the week on a weaker note after international bullion prices declined.
MCX October gold futures traded around ₹1,52,274 per 10 grams, down about ₹493, or 0.32%, during Monday’s morning session. Gold futures had closed the previous trading session at ₹1,52,815 per 10 grams, according to Moneycontrol.
Spot gold also remained under pressure. Reuters reported that international spot gold fell 0.7% to $4,398.13 per ounce, while US gold futures declined 0.7% to $4,443.60.
Gold Price Today in India (September 7): City-wise
The city-wise gold rates are as follows:
Delhi Gold Rate Today (September 7)
- 24K gold: ₹1,54,940 per 10 grams
- 22K gold: ₹1,42,040 per 10 grams
- 18K gold: ₹1,16,240 per 10 grams
Mumbai Gold Rate Today (September 7)
- 24K gold: ₹1,54,790 per 10 grams
- 22K gold: ₹1,41,890 per 10 grams
- 18K gold: ₹1,16,090 per 10 grams
Chennai Gold Rate Today (September 7)
- 24K gold was priced at ₹1,56,660 per 10 grams.
- 22K gold stood at ₹1,43,600 per 10 grams.
- 18K gold was priced at ₹1,21,300 per 10 grams.
Bengaluru Gold Rate Today (September 7)
- 24K gold: ₹1,54,790 per 10 grams
- 22K gold: ₹1,41,890 per 10 grams
- 18K gold: ₹1,16,090 per 10 grams
Hyderabad Gold Rate Today (September 7)
- 24K gold: ₹1,54,790 per 10 grams
- 22K gold: ₹1,41,890 per 10 grams
- 18K gold: ₹1,16,090 per 10 grams
Kolkata Gold Rate Today (September 7)
- 24K gold: ₹1,54,790 per 10 grams
- 22K gold: ₹1,41,890 per 10 grams
- 18K gold: ₹1,16,090 per 10 grams
Kerala Gold Rate Today (September 7)
- 24K gold: ₹1,54,790 per 10 grams
- 22K gold: ₹1,41,890 per 10 grams
- 18K gold: ₹1,16,090 per 10 grams
Pune Gold Rate Today (September 7)
- 24K gold: ₹1,54,790 per 10 grams
- 22K gold: ₹1,41,890 per 10 grams
- 18K gold: ₹1,16,090 per 10 grams
Ahmedabad Gold Rate Today (September 7)
- 24K gold: ₹1,54,840 per 10 grams
- 22K gold: ₹1,41,940 per 10 grams
- 18K gold: ₹1,16,140 per 10 grams
Lucknow Gold Rate Today (September 7)
- 18K gold: Around ₹1.16 lakh per 10 grams
- 22K gold: Around ₹1.42 lakh per 10 grams
- 24K gold: Around ₹1.55 lakh per 10 grams
Gold Price Today in India (September 7): MCX Performance
- MCX gold began Monday under pressure.
- MCX October gold futures traded around ₹1,52,274 per 10 grams, down ₹493 or 0.32% from the previous close at the time of the latest market update.
- Moneycontrol reported that MCX gold futures had closed Friday at ₹1,52,815 per 10 grams, while spot gold stood at ₹1,54,425 per 10 grams in the evening session.
- The decline came as global gold prices weakened after stronger-than-expected US employment data increased expectations of tighter Federal Reserve policy.
- Reuters reported that traders raised the probability of a September US rate hike to 58.4%, up from 55% before the jobs report.
- Higher interest rates typically weigh on gold because the precious metal does not provide interest income.
Gold Price Today in India (September 7): Key Considerations For Buyers
- Gold remains expensive: Despite the recent correction, 24K gold continues to trade around ₹1.55 lakh per 10 grams across major Indian cities.
- MCX gold has weakened: October futures slipped below ₹1.53 lakh during Monday’s session.
- US rate expectations matter: Stronger US jobs data has increased expectations of a September Fed rate hike, putting pressure on bullion.
- Oil prices are another risk: Brent crude moved above $97 a barrel as tensions around the Strait of Hormuz raised concerns about energy supply disruptions. Higher oil prices can increase inflation and reduce the appeal of gold if they push interest rates higher.
- Geopolitical tensions still support gold: The conflict in West Asia continues to create safe-haven demand, limiting the downside for bullion.
- City prices differ: Retail gold rates vary between cities and jewellers, so buyers should compare the quoted rate before placing an order.
- Jewellery costs are higher than the headline rate: GST, making charges and other costs can increase the final amount paid by consumers.
- US inflation data is important this week: Investors will watch the upcoming PPI and CPI releases for further clues about the Federal Reserve’s interest-rate path.
