Gold Prices Plummet Across Indian Jewellery Brands on US Jobs Report
Gold prices fell across leading jewellery brands in India on September 7, 2026. The decline was attributed to a stronger-than-expected US jobs report, which revived bets on a Federal Reserve rate hike this month, denting demand for safe-haven bullion.
Ashish Rajodiya, commodity research analyst at PL Capital, noted that gold and silver prices slipped in early trade on Monday. MCX gold is trading below Rs 1,52,500 per 10 grams, while international spot gold has slipped nearly 1% to around $4,400 an ounce.
The India Bullion and Jewellers Association (IBJA) released indicative retail selling rates for September 7, 2026. According to the IBJA, the price of fine gold (999) is ₹15,248 per gram, while 22 KT Gold is priced at ₹14,882 per gram.
The prices listed by the IBJA are exclusive of 3% GST and making charges. The decline in gold prices has been observed across various cities in India, including New Delhi, Mumbai, Chennai, Kolkata, Trivandrum, and Bengaluru.