Precious metal markets on August 16, 2026, saw gold and silver prices maintain a largely stable trajectory across India, a trend influenced by prevailing conditions in international bullion markets. Market participants continue to closely monitor global economic data, anticipated US interest rate adjustments, and currency fluctuations, all of which are key drivers for future price movements.
MCX Futures Update
On the Multi Commodity Exchange (MCX), gold futures experienced a marginal uptick, rising by 0.60% to trade at approximately ₹1.45 lakh per 10 grams. Similarly, silver futures also saw an increase of about 0.99%, reaching around ₹2.23 lakh per kilogram.
Retail Gold Rates Across Major Indian Cities
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 favored for jewellery due to its enhanced strength and durability from alloyed metals.
Here are the 24K and 22K gold rates per 10 grams across key cities on August 16:
- Delhi: 24K - ₹1,53,030 | 22K - ₹1,40,290
- Mumbai: 24K - ₹1,52,880 | 22K - ₹1,40,140
- Bengaluru: 24K - ₹1,53,030 | 22K - ₹1,40,290
- Kolkata: 24K - ₹1,52,880 | 22K - ₹1,40,140
- Hyderabad: 24K - ₹1,52,880 | 22K - ₹1,40,140
- Chennai: 24K - ₹1,53,030 | 22K - ₹1,40,290
Silver Prices Today
Silver rates also showed stability. Below are the latest prices per 100 grams and per kilogram in major cities:
- Delhi: ₹26,700 (100gm) | ₹2,67,000 (kg)
- Mumbai: ₹27,090 (100gm) | ₹2,70,900 (kg)
- Bengaluru: ₹26,690 (100gm) | ₹2,66,900 (kg)
- Kolkata: ₹26,690 (100gm) | ₹2,66,900 (kg)
- Hyderabad: ₹27,090 (100gm) | ₹2,70,900 (kg)
- Chennai: ₹27,290 (100gm) | ₹2,72,900 (kg)
Jeweller-Specific Gold Rates
Leading jewellery retailers also reported largely stable gold prices on August 16, 2026. Marginal variations in retail prices typically stem from brand-specific pricing strategies, procurement costs, and regional market dynamics, though overall bullion trends remain the primary influence.
- Joyalukkas: 22K gold was quoted at ₹13,200 per gram across major Indian states.
- Malabar Gold & Diamonds: Offered 22K gold at ₹13,200 per gram and 24K gold at ₹14,422 per gram.
- Tanishq: Reported 22K gold at ₹13,245 per gram, with its 24K gold rate estimated at ₹14,415 per gram.