Gold rate today: Yellow metal drops after rally, check latest prices in your city on Sept 4

Gold rate today

Gold prices dropped on September 4, snapping a multi-session gaining streak. Gold's October contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 1,06,500 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 4:

"We've seen a bit of profit-taking, but gold is still in a bull market at this point in time. Rate-cut expectations and worries over the Federal Reserve's independence are going to add to safe-haven demand," GoldSilver Central MD Brian Lan said.

Gold had seen a significant rally earlier, amid global uncertainties. 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.

(With inputs from Reuters)

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