Gold and silver prices in India showed broad stability across various purities and major cities on October 9, 2026. The benchmark rate for 24-carat gold was recorded at ₹1,49,910 per 10 grams, while silver was priced at ₹2,21,470 per kilogram.
Market Overview and Influencing Factors
On the Multi Commodity Exchange (MCX), gold futures saw a marginal increase of 0.97%, reaching ₹1,51,058 per 10 grams. Silver futures also climbed by 1.43%, trading at approximately ₹2,24,387 per kilogram.
Several factors continue to influence precious metal prices. Higher interest rates typically act as a headwind for non-yielding assets like gold. Globally, markets are closely monitoring economic risks and escalating geopolitical tensions, particularly in the Middle East, which can drive safe-haven demand for gold.
Domestically, Indian gold and silver prices are shaped by international spot bullion trends, the dynamics of the USD/INR exchange rate, and anticipatory retail demand, especially with the upcoming peak festival shopping season.
Gold Purity and Taxation
In the physical retail market, gold is primarily available in 24-karat and 22-karat options. While 24-karat represents pure gold, 22-karat is the preferred choice for crafting jewellery due to its enhanced durability from mixed alloys.
Retail gold purchases in India are subject to a 3% Goods and Services Tax (GST) on the metal's value, in addition to a 5% GST on jewellery making charges. Import duties and local transportation surcharges also contribute to regional price variations across different states.
City-Wise Gold Rates (October 9, 2026)
24-Karat Gold (per 10gm)
- Delhi: ₹1,50,750
- Mumbai: ₹1,51,010
- Bengaluru: ₹1,51,130
- Kolkata: ₹1,50,810
- Hyderabad: ₹1,51,250
- Chennai: ₹1,51,740
22-Karat Gold (per 10gm)
- Delhi: ₹1,38,188
- Mumbai: ₹1,38,426
- Bengaluru: ₹1,38,536
- Kolkata: ₹1,38,243
- Hyderabad: ₹1,38,646
- Chennai: ₹1,39,095
City-Wise Silver Rates (October 9, 2026)
Silver rates remained consistent across major Indian cities on October 9, 2026.
Silver (per kg)
- Delhi: ₹2,24,650
- Mumbai: ₹2,24,650
- Bengaluru: ₹2,24,650
- Kolkata: ₹2,24,650
- Hyderabad: ₹2,24,650
- Chennai: ₹2,24,650
Top Jewellers' Rates
Leading retail chains maintained largely unchanged prices. Major brands like Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,815 per gram across most states. Tanishq listed its 22K gold rate at ₹13,755 per gram. For 24-carat gold, Malabar quoted ₹15,071 per gram, while Tanishq was at ₹15,005 per gram.
Minor disparities in retail rates among brands typically arise from store-level pricing strategies, inventory acquisition costs, and regional logistics, even as global commodity trends dictate the overall market direction.