Precious metal markets in India saw stable trading on September 15, 2026, with both gold and silver prices holding firm across major metropolitan areas. Despite minor fluctuations in futures trading, retail rates for various purities of gold and silver largely maintained their previous levels, offering consistency for buyers and investors.
India's Gold and Silver Spot Market Overview
As of September 15, 2026, the retail price for 24-carat gold stood at ₹1,54,080 per 10 grams across key Indian cities including Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai. For 22-carat gold, often preferred for jewellery due to its durability, the rate was ₹1,41,390 per 10 grams in Delhi, while Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai saw prices at ₹1,41,240 per 10 grams.
Silver prices also showed stability, with a kilogram of the metal priced at ₹2,44,900 in Delhi, Mumbai, and Bengaluru. In Kolkata, Hyderabad, and Chennai, silver was marginally higher at ₹2,49,900 per kilogram.
Regional Price Variations
While bullion trends are generally uniform, slight regional differences in retail prices can arise from factors such as local demand, brand-specific pricing policies, and procurement costs.
- 24K Gold (per 10gm): Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, Chennai all at ₹1,54,080
- 22K Gold (per 10gm): Delhi at ₹1,41,390; Mumbai, Bengaluru, Kolkata, Hyderabad, Chennai all at ₹1,41,240
- Silver (per kg): Delhi, Mumbai, Bengaluru at ₹2,44,900; Kolkata, Hyderabad, Chennai at ₹2,49,900
Multi Commodity Exchange (MCX) Futures
On the Multi Commodity Exchange (MCX), gold futures experienced a marginal increase, rising by 0.05% to trade at ₹1,51,304 per 10 grams. Silver futures also saw a slight uptick, climbing 0.03% to reach approximately ₹2,32,750 per kilogram.
Factors Influencing Precious Metal Prices
Several key factors contribute to the dynamic pricing of gold and silver in the Indian market. These include the prevailing international gold price, which sets a global benchmark, and the exchange rate of the US Dollar against the Indian Rupee. Domestic demand, particularly ahead of India's festive season, also plays a significant role in influencing local prices. Geo-political events and global economic indicators can further impact investor sentiment and, consequently, precious metal valuations.
Understanding Gold Purity: 24K vs. 22K
In the retail market, gold is primarily traded in two purities: 24-karat and 22-karat. 24-karat gold is considered the purest form of the metal, containing 99.9% pure gold. While highly valued, its softness makes it less suitable for intricate jewellery. Conversely, 22-karat gold, which contains 91.6% gold mixed with other alloyed metals like copper or silver, is widely preferred for crafting jewellery due to its enhanced strength and durability.