Gold prices fall after PM Modi’s appeal to avoid buying:Yellow metal gets ₹1,000/10 gm cheaper; silver rates correct over ₹1.50 lakh/kg from peaks

Following PM Narendra Modi’s appeal to people not to buy unnecessary gold, gold and silver prices fell on September 1. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold has fallen by ₹1,037 to ₹1.55 lakh. Meanwhile, the price of one kilogram of silver has declined by ₹1,711 today to ₹2.35 lakh. According to market expert Anuj Gupta, gold prices may remain under pressure in the coming days due to PM Narendra Modi’s appeal. In addition, gold and silver prices have declined due to the rise in crude oil 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 1, 2026 Silver falls by ₹1.53 lakh from its all-time high Gold and silver prices have been witnessing continuous fluctuations this year. On December 31, 2025, gold prices were ₹1.33 lakh, which rose to ₹1.76 lakh on January 29, reaching their highest level. Since then, gold has become cheaper by ₹21,000. Meanwhile, the price of silver was ₹2.30 lakh on December 31, 2025, and had reached an all-time high of ₹3.86 lakh on January 29. Since then, silver has become cheaper by ₹1.53 lakh. Gold and silver prices 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 in Different Cities Keep These 3 Things in Mind When Buying Gold from Jewellers PM Modi Appeals to People Not to Buy Unnecessary Gold PM Narendra Modi once again appealed to people to avoid purchasing gold unnecessarily. He said that if there is no need for it, gold should not be bought.’ Earlier, on May 11 as well, the PM had appealed to the people of the country not to buy gold.