Gold rate today: Yellow metal extends bull run, check the latest prices in your city on September 2

Gold prices jumped on September 2, extending significant gains amid uncertainties. Gold's October contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 1,04,850 per 10 grams today, as against the previous close of Rs 1,04,785 per 10 grams.

Gold's October contracts had hit a record high of Rs 1,05,937 per 10 grams yesterday. Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on September 2:

"Spot gold surged to a four-month high of $3,489 per ounce on Monday, extending gains as expectations of U.S. Federal Reserve rate cuts and growing concerns about the Fed’s independence pressured the U.S. dollar to a one-month low of 97.5. The odds of a September rate cut have increased, supported by recent dovish remarks from San Francisco Fed President Mary Daly and Governor Christopher Waller. Adding to market uncertainty, a U.S. court has ruled President Trump’s trade tariffs illegal, though they will remain in effect until October 14. Meanwhile, a decision on Fed Governor Lisa Cook’s role is not expected until at least Tuesday, keeping institutional uncertainty in focus. Today, spot gold hit a record high of $3,508, buoyed by dovish Fed expectations and increased safe-haven demand amid ongoing legal, political, and geopolitical tensions," said Kaynat Chainwala, AVP Commodity Research, Kotak Securities.

Also read: Gold’s share in global reserves hits 30-year high amid weakening dollar

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