Silver & Gold Rates Hit Record Highs Today: Check Price In Delhi, Mumbai, Chennai On September 1

Gold and silver prices in India reached unprecedented levels on September 1, 2025, driven by a weakening rupee, global demand for safe-haven assets, and expectations of a US Federal Reserve rate cut. On the Multi Commodity Exchange (MCX), gold hit a new high of Rs 1,05,937 per 10 grams, while silver surged to Rs 1,24,349 per kg. Internationally, COMEX gold traded at USD 3,545.4 per troy ounce, reflecting a 1% gain. City-wise rates across Delhi, Mumbai, Chennai, and Kolkata showed significant increases, with 24-carat gold priced around Rs 1,06,030 in Delhi and silver at Rs 1,36,000 per kg in Chennai.

Gold Prices Hit Record Highs in India

Gold prices in India opened at a record high on September 1, 2025, with the MCX gold October 3 contract gaining Rs 1,221 to trade at Rs 1,05,020 per 10 grams, after touching a peak of Rs 1,05,937. The surge was driven by a weaker rupee, which hit an all-time low against the dollar, and global demand for safe-haven assets. Globally, COMEX gold prices rose by 1%, trading at USD 3,545.4 per troy ounce, while spot gold was up 0.81% at USD 3,476.05 per ounce at 10:30 am.

City-Wise Gold and Silver Rates

The record price surge is reflected in city-wise rates for both gold and silver.
Gold Prices Today (Per 10 Grams):
Delhi: 24-carat gold is priced at ₹1,06,030, while 22-carat gold is at ₹97,200.
Mumbai: Both 24-carat and 22-carat gold are available at ₹1,05,880 and ₹97,050, respectively.
Kolkata: The rates are consistent with Mumbai, with 24-carat gold at ₹1,05,880 and 22-carat at ₹97,050.
Chennai: 24-carat gold is at ₹1,05,880, and 22-carat gold is at ₹97,050.
Bangalore, Hyderabad, Kerala, Pune: All these cities saw 24-carat gold at ₹10,588 per gram (₹1,05,880 per 10 grams) and 22-carat at ₹9,705 per gram (₹97,050 per 10 grams).
Silver Prices Today (Per Kg):
Delhi, Mumbai, Kolkata: Silver is uniformly priced at ₹1,26,000 per kg.
Chennai: The price of silver stands at ₹1,36,000 per kg.

Global Factors Driving Precious Metal Prices

Globally, gold prices hit a four-month high as traders increased bets on a US Federal Reserve rate cut in September, with an 87% probability of a 25-basis-point cut, according to CME FedWatch. San Francisco Fed President Mary Daly’s support for a rate cut, despite stable US core PCE inflation data, has strengthened market sentiment. Additionally, a weakened US dollar following a court ruling against US President Donald Trump’s tariffs has boosted gold’s appeal. Escalating US-India trade tensions, including higher tariffs on Indian goods, have further prompted investors to turn to precious metals as a hedge against uncertainty.

Outlook for Gold and Silver

Market analyst Rahul Kalantri noted that gold has technical support at Rs 1.03 lakh–1.02 lakh per 10 grams and resistance at Rs 1.04 lakh–1.05 lakh per 10 grams. The upcoming US non-farm payrolls data, due on September 5, 2025, is expected to influence the Federal Reserve’s rate decision, potentially setting the trajectory for bullion prices in the coming weeks. As economic and geopolitical uncertainties persist, gold and silver are likely to remain attractive investment options for Indian and global investors alike.