On September 26, 2026, India's gold and silver markets experienced a period of relative calm, with stable rates reported across various purities. The benchmark price for 24-carat gold was recorded at ₹1,51,450 per 10 grams, while silver maintained a steady position at ₹2,35,030 per kilogram.
Trading on the Multi Commodity Exchange (MCX) showed slight movements. Gold futures saw a marginal decrease of 0.12%, settling at ₹1,50,700 per 10 grams. In contrast, silver futures edged up by 0.65%, trading around ₹2,35,000 per kilogram at the time of reporting.
Factors Influencing Precious Metal Prices
Several factors contribute to the pricing of gold and silver in the Indian market. International spot bullion trends play a significant role, as do the dynamics of the USD/INR currency exchange rate. Anticipatory retail demand, especially leading up to major festivals, also heavily influences market rates.
When purchasing retail gold in India, a standard 3% Goods and Services Tax (GST) is applied to the metal's value. Additionally, a separate 5% GST is levied on jewellery making charges. Import duties and local transport surcharges further contribute to regional price variations across different states.
Understanding Gold Purity: 24K vs. 22K
In the physical retail market, gold is primarily sold in two purities: 24-karat and 22-karat. While 24-karat represents pure gold, 22-karat is the preferred choice for crafting ornaments. The inclusion of mixed alloys in 22-karat gold enhances its durability, making it more suitable for jewellery that will be worn regularly.
City-Wise Gold Rates (September 26, 2026)
Here are the latest gold rates per 10 grams across major Indian cities:
- Delhi: 24K ₹1,50,910 | 22K ₹1,38,334
- Mumbai: 24K ₹1,51,170 | 22K ₹1,38,573
- Bengaluru: 24K ₹1,51,290 | 22K ₹1,38,683
- Kolkata: 24K ₹1,50,970 | 22K ₹1,38,389
- Hyderabad: 24K ₹1,51,410 | 22K ₹1,38,793
- Chennai: 24K ₹1,51,610 | 22K ₹1,38,976
City-Wise Silver Rates (September 26, 2026)
Silver prices remained uniform across major Indian cities on September 26, 2026:
- All Major Cities (Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, Chennai): ₹23,420 per 100 grams | ₹2,34,200 per kilogram
Leading Jewellers' Rates
Major retail chains maintained consistent pricing for gold on September 26, 2026. Here are rates per gram from prominent jewellers:
- Joyalukkas (22K): ₹14,010
- Malabar Gold & Diamonds (22K): ₹14,010
- Malabar Gold & Diamonds (24K): ₹15,284
- Tanishq (22K): ₹14,055
- Tanishq (24K): ₹15,333
Minor variations in retail rates among brands can arise from differing store-level pricing structures, inventory acquisition costs, and regional logistics, even as global commodity trends dictate the overall market direction.