Gold prices drop in India following robust US jobs report
Major jewellery brands and IBJA report price declines as US economic data fuels Federal Reserve rate hike expectations.
Quick Look
Gold prices fell across major Indian jewellery retailers and the IBJA on September 7, 2026, as a strong US jobs report increased expectations of Federal Reserve interest rate hikes, reducing demand for bullion.
AI-generated summary
Why It Matters
Gold prices are sensitive to US economic data, as higher interest rates typically increase the opportunity cost of holding non-yielding bullion.
Gold prices dipped today (Monday, September 7, 2026) across leading jewellery brands such as Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers and Tanishq and the IBJA. The gold price depends on jewellery brands and the city/state where it is being sold, as goods and service tax (GST), making charges and other applicable costs can also add to the bill. It is therefore worth comparing the gold rate, purity and additional charges before making a purchase.
Here are the latest 22k gold jewellery rates from Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers and Tanishq in New Delhi, Mumbai, Chennai, Kolkata, Trivandrum and Bengaluru. Also see the latest 24k, 22k, 20k, 18k and 14k gold prices and the 999-purity silver rate from the Indian Bullion & Jewellers Association (IBJA) today.
Ashish Rajodiya, commodity research analyst at PL Capital, says, “Gold and silver prices slipped in early trade on Monday after a stronger-than-expected US jobs report revived bets on a Federal Reserve rate hike this month, denting demand for safe-haven bullion. MCX gold is trading below Rs 1,52,500 per 10 grams, while international spot gold has slipped nearly 1% to trade around $4,400 an ounce. MCX silver has tracked the move lower, dropping below Rs 2,37,500 per kg, in line with a similar decline in international spot silver to around $66 an ounce.”
As of September 7, 2026, Tanishq's price for 22k gold jewellery is Rs 14,175 per gram across Delhi showrooms. On September 6, 2026, the 22k gold price at Tanishq was Rs 14,235 per gram.
The current price of 22K gold jewellery at Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas is Rs 14,130 per gram each at their respective Delhi showrooms. On September 5, 2026, the 22k gold price at Tanishq was Rs 14,190 per gram.
As of September 7, 2026, Tanishq's price for 22k gold jewellery is Rs 14,175 per gram across Mumbai showrooms. On September 6, 2026, the 22k gold price at Tanishq was Rs 14,235 per gram.
The current price of 22K gold jewellery at Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas is Rs 14,130 per gram each at their Mumbai showrooms. On September 6, 2026, the 22k gold price was Rs 14,190 per gram.
As of September 7, 2026, Tanishq's price for 22k gold jewellery is Rs 14,175 per gram across Chennai showrooms. On September 6, 2026, the 22k gold price at Tanishq was Rs 14,235 per gram.
The current price of 22K gold jewellery at Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas is Rs 14,130 per gram each at their Chennai showrooms. On September 5, 2026, the 22k gold price was Rs 14,190 per gram.
As of September 7, 2026, Tanishq's price for 22k gold jewellery is Rs 14,175 per gram across Kolkata showrooms. On September 6, 2026, the 22k gold price at Tanishq was Rs 14,235 per gram.
The current price of 22K gold jewellery at Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas is Rs 14,130 per gram each at their respective Kolkata showrooms. On September 5, 2026, the 22k gold price in the city was Rs 14,190 per gram.
As of September 7, 2026, Tanishq's price for 22k gold jewellery is Rs 14,175 per gram across Trivandrum showrooms. On September 6, 2026, the 22k gold price at Tanishq was Rs 14,235 per gram.
The current price of 22K gold jewellery at Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas is Rs 14,130 per gram each at their respective Trivandrum showrooms. On September 5, 2026, the 22k gold price was Rs 14,190 per gram.
As of September 7, 2026, Tanishq's price for 22k gold jewellery is Rs 14,175 per gram across Trivandrum showrooms. On September 6, 2026, the 22k gold price at Tanishq was Rs 14,235 per gram.
The current price of 22K gold jewellery at Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas is Rs 14,130 per gram each in Bengaluru. On September 5, 2026, the 22k gold price was Rs 14,190 per gram
According to the India Bullion and Jewellers Association’s (IBJA) indicative retail selling rates dated September 7, 2026 (AM):
Fine Gold (999): ₹15,248 per gram
22 KT Gold: ₹14,882 per gram
20 KT Gold: ₹13,570 per gram
18 KT Gold: ₹12,351 per gram
14 KT Gold: ₹9,835 per gram
Silver (999): ₹2,31,489 per kg
The rates are exclusive of 3% GST and making charges.
According to the IBJA indicative retail selling rates for September 4, 2026 (PM):
Fine Gold (999): ₹15,488 per gram
22 KT Gold: ₹15,117 per gram
20 KT Gold: ₹13,785 per gram
18 KT Gold: ₹12,546 per gram
14 KT Gold: ₹9,990 per gram
Silver (999): ₹2,35,456 per kg
IBJA gold and silver rates: September 7 vs September 4, 2026
Gold/Silver category: Fine Gold (999), September 7, 2026 (AM): ₹15,248/g, September 4, 2026 (PM): ₹15,488/g, Change: ₹240
Gold/Silver category: 22 KT Gold, September 7, 2026 (AM): ₹14,882/g, September 4, 2026 (PM): ₹15,117/g, Change: ₹235
Gold/Silver category: 20 KT Gold, September 7, 2026 (AM): ₹13,570/g, September 4, 2026 (PM): ₹13,785/g, Change: ₹215
Gold/Silver category: 18 KT Gold, September 7, 2026 (AM): ₹12,351/g, September 4, 2026 (PM): ₹12,546/g, Change: ₹195
Gold/Silver category: 14 KT Gold, September 7, 2026 (AM): ₹9,835/g, September 4, 2026 (PM): ₹9,990/g, Change: ₹155
Gold/Silver category: Silver (999), September 7, 2026 (AM): ₹2,31,489/kg, September 4, 2026 (PM): ₹2,35,456/kg, Change: ₹3,967
Open Questions
- Will the Federal Reserve confirm a rate hike this month?
- How long will the current downward trend in gold prices persist?
