Gold rate today: Amid soaring crude oil prices due to escalating tensions in the US-Iran war, rising US Treasury yields, and a strong US dollar (USD), gold prices today are under pressure. The renewed tension from rising inflation has fueled buzz about a US Fed rate hike at next week's US Fed meeting, scheduled for 15th to 16th September 2026.
In the international market, the COMEX gold price finished around 1.50% lower at $4,408.90 per ounce, whereas the MCX gold rate edged higher last week and ended at ₹1,52,784 per 10 gm, but ended below 20-DEMA on the technical chart.
On triggers that are dragging gold price today, Ponmudi R, CEO at Enrich Money, said, “The gold rate today is on edge as another surge in oil prices fed into inflation expectations and pushed markets to sharply raise the odds of a US Fed rate hike at next week’s US Fed meeting. The resulting pressure on precious metals drove gold and silver into their third consecutive weekly declines, although both staged a notable rebound on Friday despite a hotter-than-expected headline inflation reading.”
Pointing towards the major drag for the gold and silver rates today, Ponmudi R of Enrich Money said, “Oil once again dominated the commodity landscape, with WTI crude rising above $104 a barrel, gaining 9.6% over the five sessions and nearly 16% over the past month as US–Iran tension continued to escalate.”
The Enrich Money expert said the US diesel prices also climbed above $6 a gallon for the first time, underscoring the growing inflationary impact of higher energy costs. The sustained rise in crude has increasingly become the key transmission channel linking geopolitical tensions with inflation expectations and Federal Reserve policy.