Gold, silver prices today, September 1: Check 22K, 24K gold rates in Delhi, Mumbai and other cities - upstox.com

AI desk brief

Indian bullion prices were firmer but off recent highs on Sept. 1, with 24K gold at ₹1,54,910/10g, 22K at ₹1,29,092 and silver at ₹2,39,800/kg from Bullions.co.in. In Delhi, retail gold was quoted slightly higher at ₹1,60,900/10g after falling ₹1,500 on the day, while IBJA’s latest physical market report showed 999 gold at ₹1,59,578/10g and 999 silver at ₹2,43,892/kg, excluding GST.

The piece frames the market around macro and policy drivers rather than domestic jewellery demand alone. Gold is described as under pressure after Fed Chair Kevin Warsh’s hawkish Jackson Hole remarks, with traders watching US rate expectations, the dollar, Treasury yields and upcoming jobs data. It also notes renewed discussion of a possible cut in Indian import duties on gold and silver after higher tariffs failed to curb imports.

Near term, the setup is mixed for domestic prices: a stronger Fed/rates backdrop is a headwind, but any reduction in import duties would be a direct local catalyst for lower retail premiums and potentially softer Indian demand conditions at the margin. PM traders will watch whether global yields keep the metal capped while policy headlines from New Delhi alter landed costs for bullion and jewellery flows.