Gold, silver prices today, 2 September: Check retail rates of 24K, 22K gold, 999 silver in Delhi, Mumbai and Kolkata - Livemint
AI desk brief
Gold and silver came under pressure on 2 September, with spot gold down 0.6% to $4,304.01/oz, its lowest in more than three weeks and below the 200-day moving average. MCX gold was trading 1.07% lower at â¹150,530 per 10 grams, while MCX silver was down 1.26% at â¹231,830/kg, pointing to broad-based weakness across both metals.
The move came as the US-Iran conflict intensified, lifting oil prices for a third straight session and pushing US Treasury yields higher. That combination is being read as inflationary and potentially hawkish for the Fed, with the article explicitly citing fears of a rate hike as a headwind for bullion. Indian retail rates also softened across major cities, with 24K gold around â¹149,840-â¹150,480/10g and silver 999 around â¹230,860-â¹231,840/kg.
Technically, the key market point is that spot gold remains below the 200-day moving average, which keeps near-term momentum negative and may encourage further systematic selling if risk sentiment stays defensive. Near-term catalysts are US macro data, Fed commentary, and any further escalation in Middle East tensions, which could either reinforce inflation/yield pressure or revive safe-haven buying if the geopolitical backdrop deteriorates further.