Gold Prices in India Decline as US Fed Rate Hike Expectations Slump
Gold prices in India have declined by 0.40% today, September 4th, 2026, compared to their previous close. The price of 24K gold has dropped to ₹155,290 per 10 grams, while 22K and 18K gold are at ₹142,349 and ₹116,468 per 10 grams respectively. According to analysts, the decline in gold prices is due to a drawback in expectations of a rate hike by the US Federal Reserve.
US Fed governor Christopher Waller stated that the central bank would keep rates unchanged if inflation remains contained, leading to a slide in the probability of a rate hike. This has resulted in lower interest rates, making non-interest-bearing bullion more appealing.
The outlook for gold investors suggests that prices will take cues from the payrolls data due later in the day. Ponmudi R, CEO of Enrich Money, stated that 'macro tone stays constructive, with price needing to reclaim $4,600, while a break below immediate support could weaken the near-term structure.'