Gold prices in India witnessed a decline on September 5, 2026. Get the latest rates for 24K, 22K, and 18K gold across major cities like Mumbai, Delhi, and Chennai.
- 24-carat gold prices dropped by ₹186 per gram today.
- 22-carat gold is trading at ₹14,190 per gram, while 18-carat is at ₹11,610.
- Geopolitical tensions in the Middle East continue to drive market volatility.
The Indian bullion market saw a downward trend today, September 5, 2026, as gold prices eased across several key metrics. According to data from Good Returns, the price of 24-carat gold stands at ₹15,480 per gram, marking a notable decrease of ₹186 compared to the previous day. Similarly, 22-carat and 18-carat gold prices have also dipped, reflecting a broader cooling in the market.
City-Wise Gold Price Breakdown
Gold prices vary slightly across India's major metropolitan hubs due to local taxes and demand. While cities like Mumbai, Kolkata, and Bangalore show uniform pricing, Chennai remains slightly higher in the market.
| City | 24K (per 10g) | 22K (per 10g) | 18K (per 10g) |
|---|---|---|---|
| Chennai | ₹15,667 | ₹14,361 | ₹12,131 |
| Mumbai | ₹15,480 | ₹14,190 | ₹11,610 |
| Delhi | ₹15,495 | ₹14,205 | ₹11,625 |
| Kolkata | ₹15,480 | ₹14,190 | ₹11,610 |
Why This Matters
BozokMedia analysis shows that while a temporary reduction in international panic has caused a slight dip, the underlying volatility remains high. The escalating military exchanges between the United States and Iran, coupled with Saudi Arabia's drop in crude oil exports to a nine-year low, are creating a perfect storm for precious metals. Investors are increasingly treating gold as a primary safe-haven asset amidst these geopolitical shifts.
Gold remains the ultimate hedge against global instability and fluctuating energy markets.
Historical Background: Historically, precious metal prices are heavily influenced by the strength of the US Dollar and geopolitical stability in the West Asia region. The recent collapse of the 60-day ceasefire between Washington and Tehran has historically led to spikes in gold demand as commercial shipping lanes in the Strait of Hormuz face renewed threats.
Frequently Asked Questions
1. What is the current price of 24K gold?
As of today, 24K gold is priced at ₹15,480 per gram.
2. Why are gold prices fluctuating?
Fluctuations are driven by Middle East tensions, crude oil supply changes, and international safe-haven demand.
