Gold prices fall after PM Modi’s appeal:Silver becomes ₹9,000/kg cheaper in just 2 days

Gold and silver prices have fallen again today, September 2. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold has dropped by ₹1,855 to ₹1.51 lakh. The price of one kilogram of silver has fallen by ₹2,059 today to ₹2.28 lakh. Following Prime Minister Narendra Modi’s appeal, silver has become cheaper by nearly ₹9,000 and gold by ₹4,500 in just two days. Yesterday, gold became cheaper by ₹2,652 and silver by ₹6,780. Impact of PM Modi’s appeal not to buy non-essential gold According to market expert Anuj Gupta, gold prices are under pressure due to Prime Minister Narendra Modi’s appeal. In addition, rising crude oil prices have also led to a decline in gold and silver prices. The United States attacked an Iranian island in the Strait of Hormuz. Iran also attacked US bases in Jordan. Gold prices according to carat Gold prices in major cities across the country Source: Goodreturns, September 2, 2026 Silver falls ₹1.55 lakh from its all-time high Gold and silver prices have been witnessing continuous fluctuations this year. On December 31, 2025, gold prices stood at ₹1.33 lakh, which rose to ₹1.76 lakh on January 29, reaching their highest level. Since then, gold has become cheaper by ₹24,000. Meanwhile, the price of silver was ₹2.28 lakh on December 31, 2025, and reached an all-time high of ₹3.86 lakh on January 29. Since then, silver has become cheaper by ₹1.58 lakh. Gold and silver performance so far this year Note: Gold prices are per 10 grams and silver prices are per kilogram | Source: IBJA 4 Reasons Why Gold Prices Differ Across Cities Keep These 3 Things in Mind When Buying Gold from Jewellers