Gold prices jumped on September 3, extending significant gains amid global uncertainties and stock market volatility. Gold's October contracts on the Multi Commodity Exchange of India (MCX) hit a fresh all time high of Rs 1,06,289 per 10 grams today.
Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on September 3:
| City | Price of 24k gold | Price of 22k gold |
| Delhi | Rs 1,07,120/10g | Rs 98,200/10g |
| Mumbai | Rs 1,06,970/10g | Rs 98,050/10g |
| Chennai | Rs 1,06,970/10g | Rs 98,050/10g |
| Kolkata | Rs 1,06,970/10g | Rs 98,050/10g |
| Bengaluru | Rs 1,06,970/10g | Rs 98,050/10g |
| Jaipur | Rs 1,07,120/10g | Rs 98,200/10g |
| Lucknow | Rs 1,07,120/10g | Rs 98,200/10g |
| Hyderabad | Rs 1,06,970/10g | Rs 98,050/10g |
| Ahmedabad | Rs 1,07,020/10g | Rs 98,100/10g |
"Gold extended its rally in the global market to fresh highs, reflecting investor caution amid persistent concerns over prolonged US tariffs and their potential impact on global growth and geopolitical change," said Vinod Nair, Head of Research, Geojit Investments.
"Gold prices lifted by expectations that the US central bank will cut its key interest rate, making gold an even more attractive prospect for investors," said Religare Broking.
Also read: Gold at record highs; should you sell, buy or wait for a dip?
Expectations of a rate cut by the US Federal Reserve rate cut this month and lingering uncertainty over President Donald Trump’s tariff policies continue to support gold. But the pace of this rally means investors need to be cautious. “Fundamentally, all pointers suggest further upside. However, since the rally has been quite stretched, some profit-booking is expected. For fresh buyers, I would recommend waiting for dips before entering,” Manav Modi, analyst, Precious Metals Research said.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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