Gold Prices Plummet to Three-Week Low Amid Escalating US-Iran Tensions
The price of gold has fluctuated in recent days, influenced by escalating tensions between the US and Iran. According to Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of IBJA, 'gold dropped to a three-week low Wednesday as escalating U.S.-Iran tensions pushed oil prices higher, stoking inflation and rate-hike concerns ahead of key U.S. jobs data.'
Globally, gold has found support near $4,200, while silver watches the $60-61 level for support, according to Kothari.
Locally, Tanishq's price for 22k gold jewellery is Rs 14,260 per gram as of September 2, 2026. Malabar Gold & Diamonds' and Joyalukkas’ prices are Rs 13,935 per gram each, also as of September 2, 2026.
The India Bullion and Jewellers Association Ltd (IBJA) has published the latest gold and silver rates for September 2, 2026. Fine Gold (999) is priced at ₹15,133 per gram, while 22 KT Gold is priced at ₹14,770 per gram, according to IBJA.
The prices may change during the day and vary depending on a state, tax structure, and other applicable charges. It's worth noting that gold prices can differ from one jeweller to another, so it's best to check the latest rates before buying gold jewellery.