Why are gold and silver prices spiking this Janmashtami? Check city-wise rates for Sept 4, 2026
New Delhi: On the occasion of Janmashtami (September 4), precious metals opened on a firm note across major Indian metropolitan cities. According to data from Bullions.co.in around 6.10 am IST on Friday, September 4, 2026, 24-carat gold stood at ₹1,56,200 per 10 grams, while 22-carat gold was quoted at ₹1,43,183 per 10 grams. Meanwhile, silver prices stood at ₹2,41,990 per kilogram.
The yellow metal continues its strong upward trajectory, recording a 5% price surge over the past month alone. On an annual basis, gold has registered a gain of over 46% in the past year.
Across major Indian markets, Chennai reported the highest prices for both gold and silver today, whereas Delhi reported the lowest prices among major Indian cities.
What is driving the Janmashtami price rally?
Market analysts attribute the ongoing surge in precious metals to a combination of festive seasonal demand and broader macroeconomic factors.
- Festive and seasonal demand: Janmashtami marks the beginning of India's peak festive and wedding buying cycle, driving increased physical demand for jewelry and coins.
- Long-term annual gains: Gold has posted a impressive rally of over 46% over the past year, alongside a 5% gain in the last 30 days, signaling sustained investor preference for safe-haven assets.
- Global market alignment: Domestic bullion rates continue to mirror international spot prices and currency fluctuations, keeping silver near its multi-month highs.
| City | 22K Gold Price (₹) | 24K Gold Price (₹) | Market Position |
| Chennai | 1,44,800 | 1,57,960 | Highest Rate |
| Mumbai | 1,43,183 | 1,56,200 | Benchmark Rate |
| Kolkata | 1,43,183 | 1,56,200 | Benchmark Rate |
| Bengaluru | 1,43,183 | 1,56,200 | Benchmark Rate |
| Hyderabad | 1,43,183 | 1,56,200 | Benchmark Rate |
| Delhi | 1,43,030 | 1,56,050 | Lowest Rate |
Silver price today in major Indian cities (per 1kg)
| City | Silver Price (₹) | Market Position |
| Chennai | 2,45,000 | Highest Rate |
| Hyderabad | 2,45,000 | Elevated Rate |
| Mumbai | 2,41,990 | Benchmark Rate |
| Kolkata | 2,41,990 | Benchmark Rate |
| Bengaluru | 2,41,990 | Benchmark Rate |
| Delhi | 2,40,500 | Lowest Rate |