Gold Rate Today: The gold price in India today stands at Rs 15,202 per gram for 24 carat gold,  Rs 13,395 per gram for 22 carat gold and Rs 11,402 per gram for 18 carat gold, as per Good Returns.

The price of 24K gold today, September 2, 2026, in India, stands at Rs 15,202 per gram, reflecting a decrease of Rs 207 over that on September 1.

Similarly, the price of 22K and 18K gold currently stands at Rs 13,935 per gram and Rs 11,402 per gram for 18 carat gold, marking a decrease of Rs 190 and Rs 155 respectively over the prices on September 1.

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Gold and silver prices took a short dip when international panic subsided, despite high 15% tax rates. However, ongoing turmoil in the Middle East has kept precious metal markets fluctuating day to day.

City Wise Rate

Tensions in West Asia

Al Jazeera noted that in retaliation for deadly U.S. strikes, Iran’s Islamic Revolutionary Guard Corps (IRGC) announced it fired a heavy barrage of ballistic missiles at Jordan’s Prince Hassan airbase and a U.S. Marine facility. In his first statement since hostilities resumed, Supreme Leader Mojtaba Khamenei warned that Iranian forces would teach Washington “unforgettable lessons.”

Iranian state media reported to Al Jazeera that U.S. missile strikes have killed 11 people in Iran, including four at a wedding in Sirik and seven across Khuzestan province. In response, Iran’s military launched counterattacks against U.S. bases in Jordan, Bahrain, and Iraq, while neighbouring Kuwait intercepted incoming drones and missiles.

Reuters noted that crude oil prices reached a nearly six-week high on Tuesday after the U.S. military launched strikes against Iranian targets in the Strait of Hormuz. The U.S. action, taken in retaliation for overnight attacks on commercial shipping in the key maritime corridor, sparked fresh concerns over global energy supply disruptions.

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A brief lull in military clashes followed a surprise 60-day ceasefire negotiated by Washington and Tehran in mid-June 2026 to halt hostilities and safeguard critical shipping lanes. However, relentless missile strikes and persistent threats against commercial vessels quickly shattered the fragile deal, prompting both countries to scrap the agreement and restart active fighting.

With formal diplomatic avenues completely collapsed, sharp volatility across energy markets drove investors toward gold as a safe-haven asset. Domestic bullion markets mirrored these broader financial strains, with local gold prices fluctuating in line with international spot rates, shifting import tariffs, and currency movements.