Precious metal prices saw an upward trend in India on August 26, 2026. Gold futures on the Multi Commodity Exchange (MCX) advanced by 0.84%, reaching approximately ₹1.63 lakh per 10 grams. Silver futures, in contrast, held steady at around ₹2.45 lakh per kilogram.
Domestic Retail Gold Rates
In the retail market, gold is primarily traded in two purities: 24-karat and 22-karat. While 24-karat is considered the purest form, 22-karat gold is widely preferred for jewellery due to its enhanced strength and durability, attributed to the presence of alloyed metals.
Retail rates for 24-karat gold on August 26:
- Mumbai: Approximately ₹1,63,150 per 10 grams
- Delhi: Approximately ₹1,62,730 per 10 grams
- Kolkata: Approximately ₹1,62,870 per 10 grams
- Chennai: Approximately ₹1,63,570 per 10 grams
For 22-karat gold, which is commonly used in jewellery:
- Mumbai: Approximately ₹1,49,554 per 10 grams
- Delhi: Approximately ₹1,49,169 per 10 grams
- Kolkata: Approximately ₹1,49,298 per 10 grams
- Chennai: Approximately ₹1,49,939 per 10 grams
Silver Price Overview
Silver rates also exhibited city-specific variations across India. On August 26, the price for one kilogram of silver:
- Mumbai: Approximately ₹2,46,190
- Delhi: Approximately ₹2,45,370
- Kolkata: Approximately ₹2,45,690
- Chennai: Approximately ₹2,46,930
Jeweller Pricing and Market Influences
Leading jewellers reported largely stable gold prices on August 26. For instance, Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at around ₹15,010 per gram across several Indian states. Malabar's 24-karat gold was priced at ₹16,375 per gram, while Tanishq's 24-karat gold stood at approximately ₹16,424 per gram.
Marginal differences in retail prices among jewellers are influenced by brand-specific policies, procurement costs, and regional market dynamics. However, broader bullion trends continue to guide overall precious metal pricing.
Factors Affecting Gold and Silver
Market participants closely monitor global economic data, expectations regarding US interest rates, and currency movements for future direction in gold and silver prices. These international factors can significantly impact domestic rates for precious metals.