Gold prices jumped on September 1, extending significant gains amid uncertainties. Gold's October contracts on the Multi Commodity Exchange of India (MCX) hit a fresh record high of Rs 1,05,937 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 1:
| City | Price of 24k gold | Price of 22k gold |
| Delhi | Rs 1,06,030/10g | Rs 97,200/10g |
| Mumbai | Rs 1,05,880/10g | Rs 97,050/10g |
| Chennai | Rs 1,05,880/10g | Rs 97,050/10g |
| Kolkata | Rs 1,05,880/10g | Rs 97,050/10g |
| Bengaluru | Rs 1,05,880/10g | Rs 97,050/10g |
| Jaipur | Rs 1,06,030/10g | Rs 97,200/10g |
| Lucknow | Rs 1,06,030/10g | Rs 97,200/10g |
| Hyderabad | Rs 1,05,880/10g | Rs 97,050/10g |
| Ahmedabad | Rs 1,05,930/10g | Rs 97,100/10g |
"Gold marked an all-time high on Comex as well as on domestic front; Silver too booked records on domestic front and touched the higher since 2011 in COMEX on the back of safe haven buying. Along with increasing rate cut expectations, tensions between Israel and Gaza and other geo-political tensions and the tariff escalations are continuously supporting buying in bullions, as increased expectations of a U.S. Federal Reserve interest rate cut this month lifted bullion's allure," said Manav Modi, Analyst – Precious Metal -Research, Motilal Oswal Financial Services.
"Even though the data signals economies resilience, President Trump’s pressure on Fed official is continuously increasing rate cut expectations for the September which is currently at 85%. On trade front, U.S. Trade Representative Jamieson Greer said the Trump administration is continuing its talks with trading partners despite a U.S. appeals court ruling that most of President Donald Trump's tariffs are illegal. Increase in festive and wedding demand, ETF buying and Increased premiums in China are some of the additional factors supporting gold’s bull run," he added.
Also read: Gold, silver futures hit lifetime highs on MCX; what's driving the surge?
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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