Gold and silver prices across major Indian cities remained stable on October 4, 2026, with benchmark 24-carat gold holding steady at ₹1,50,560 per 10 grams. Silver also showed no change, priced at ₹2,26,610 per kilogram, influenced by a blend of global market trends and anticipated festive season demand.
National Bullion Rates Unchanged
On October 4, the Indian bullion markets saw consistent pricing across various purities. The benchmark for 24-carat gold was recorded at ₹1,50,560 per 10 grams, while 22-carat gold, often preferred for jewellery due to its durability when mixed with alloys, was also stable. Silver prices mirrored this trend, with the metal maintaining its rate at ₹2,26,610 per kilogram.
Futures trading on the Multi Commodity Exchange (MCX) indicated minor shifts. Gold futures registered a slight increase of 0.94% to ₹1,50,443 per 10 grams, and silver futures saw a gain of 1.22%, reaching approximately ₹2,26,432 per kilogram at the time of reporting.
Factors Driving Gold and Silver Prices
The stability in Indian gold and silver rates is primarily anchored by several key factors:
- International Spot Bullion Trends: Global commodity markets play a significant role in setting base prices.
- USD/INR Currency Dynamics: Fluctuations in the Indian Rupee against the US Dollar directly impact import costs.
- Anticipatory Retail Demand: The upcoming festive season typically sees a surge in demand, which can influence pricing.
It's important for consumers to note that retail purchases of gold in India incur additional charges. A standard 3% Goods and Services Tax (GST) is applied to the value of the metal, along with a separate 5% GST on jewellery making charges. Import duties and local transport surcharges further contribute to regional price variations.
City-Wise Gold and Silver Rates for October 4
Here’s a snapshot of 24-carat and 22-carat gold prices, alongside silver rates, in major Indian cities:
24K Gold Rates (₹ per 10gm)
- Delhi: ₹1,50,030
- Mumbai: ₹1,50,290
- Bengaluru: ₹1,50,410
- Kolkata: ₹1,50,090
- Hyderabad: ₹1,50,520
- Chennai: ₹1,50,720
22K Gold Rates (₹ per 10gm)
- Delhi: ₹1,37,528
- Mumbai: ₹1,37,766
- Bengaluru: ₹1,37,876
- Kolkata: ₹1,37,583
- Hyderabad: ₹1,37,977
- Chennai: ₹1,38,160
Silver Rates (₹ per kg)
- Delhi: ₹2,26,610
- Mumbai: ₹2,26,610
- Bengaluru: ₹2,26,610
- Kolkata: ₹2,26,610
- Hyderabad: ₹2,26,610
- Chennai: ₹2,26,610
Retail Jeweller Pricing
Major retail chains like Joyalukkas and Malabar Gold & Diamonds maintained consistent pricing for 22K gold at ₹13,675 per gram across most states on October 4. Tanishq also listed its 22K gold rate at ₹13,675 per gram. For 24-carat gold, Malabar quoted ₹14,918 per gram, while Tanishq was slightly higher at ₹14,967 per gram.
Minor discrepancies in retail prices among brands can be attributed to individual store pricing structures, inventory acquisition costs, and regional logistics, even as the overarching global commodity trends dictate the broader market direction.