Gold and silver prices rose across Indian markets on September 4, following updates from the India Bullion and Jewellers Association (IBJA). The price of 10 grams of 24-karat gold increased by ₹967 to ₹1,54,908, while silver jumped by ₹2,439 per kilogram to reach ₹2,34,972. Bullion Market Snapshot: September 4, 2026 Gold Gain in 2026: ₹22,000 Surge So Far Precious metals have seen continuous price movement throughout 2026. Gold prices have jumped by ₹22,000 per 10 grams since the start of the year. On December 31, 2025, 10 grams of gold was priced at ₹1.33 lakh, compared to ₹1.55 lakh today. Earlier this year, gold touched a record high of ₹1.76 lakh on January 29. Similarly, silver reached its peak of ₹3.86 lakh per kilogram on the same day before stabilizing near its current rate of ₹2.35 lakh. Why Gold Rates Vary Across Indian Cities Gold prices differ from one city to another across India. Four key factors drive these price differences: Transport and Security Costs: Moving physical gold between states incurs freight and security expenses. Longer transport distances increase local retail prices. Regional Buying Volume: South India accounts for nearly 40% of India’s total gold consumption. While jewellers make large bulk purchases, retail discount benefits remain limited. Local Jeweller Associations: State and city associations set daily benchmark rates based on local demand and supply conditions. Inventory Purchase Rates: A jeweller’s retail selling price depends directly on the cost at which they acquired their stock. Three Checklist Items for Gold Buyers Retail buyers planning to purchase jewellery should follow these essential verification steps: Verify BIS Hallmarking: Buy only Bureau of Indian Standards (BIS) hallmarked gold. Look for the unique alphanumeric HUID code (such as AZ4524) stamped on the item to confirm carat purity. Cross-Check Live Market Rates: Check official benchmark prices for 24-carat, 22-carat, and 18-carat gold on the IBJA portal on the day of purchase. Ensure the weight of gold is calculated separately from attached stones. Negotiate Making Charges: Making charges cover the labor required to manufacture jewellery. These fees are not fixed. Buyers can negotiate lower rates or request an itemized cost breakdown, especially on high-value purchases. Post navigation Kenya’s President says ‘We are not slaves’:Tata Chemicals’ operations halted
