Gold, Silver Prices Tumble as Strong Dollar, Oil Weigh

Sept 2, 2026 - Gold and silver rates in India dipped sharply in Wednesday morning trade, with the MCX gold trading at Rs 1.50 lakh mark, falling more than 1%, while MCX silver fell by 1.44% to trade at around Rs 2.32 lakh per 1 kg. This pressure in precious metal prices in India is seen because of weakness in global bullion markets.

Global cues of a stronger dollar, higher oil prices and concerns of an interest rate hike by the Fed has caused a dip in gold and silver prices, pushing them down to a three-week low and below the 200-day moving average. Spot gold was down nearly 1% at $4,304.01 per ounce, its lowest since August 7, while spot silver was also down 1% at $63 per ounce. This is the fourth consecutive fall in precious metals prices.