On September 16, 2026, gold and silver prices in India showed marginal stability across various purity levels and cities. While Multi Commodity Exchange (MCX) futures saw slight dips, retail rates held steady, reflecting ongoing market dynamics.
MCX Futures and Retail Overview
At the time of reporting, gold futures on the MCX were down by 0.06%, trading at ₹1,50,723 per 10 grams. Silver futures also experienced a minor decline of 0.04%, settling around ₹2,32,036 per kilogram. In the retail market, 24-karat gold was generally priced at ₹1,53,160 per 10 gm, and silver at ₹2,44,900 per kg, though specific city rates varied slightly.
Understanding Gold Purity
Gold in the retail market is primarily traded in two purities: 24-karat and 22-karat. 24-karat gold is considered the purest form of the precious metal. In contrast, 22-karat gold is commonly preferred for jewellery due to its enhanced strength and durability, achieved by alloying it with other metals.
Factors Influencing Precious Metal Prices
Several key factors contribute to the fluctuation of gold and silver prices in India. These include global gold prices, the exchange rate of the US Dollar against the Indian Rupee, and domestic demand for jewellery, which often surges ahead of India's festive season.
City-Wise Gold and Silver Rates (September 16, 2026)
Latest Gold Rates (per 10 gm)
- Delhi: 24K - ₹1,53,310 | 22K - ₹1,40,540
- Mumbai: 24K - ₹1,53,160 | 22K - ₹1,40,390
- Bengaluru: 24K - ₹1,53,160 | 22K - ₹1,40,390
- Kolkata: 24K - ₹1,53,160 | 22K - ₹1,40,390
- Hyderabad: 24K - ₹1,53,160 | 22K - ₹1,40,390
- Chennai: 24K - ₹1,53,160 | 22K - ₹1,40,390
Latest Silver Rates (per kg)
- Delhi: ₹2,44,900
- Mumbai: ₹2,44,900
- Bengaluru: ₹2,44,900
- Kolkata: ₹2,49,900
- Hyderabad: ₹2,49,900
- Chennai: ₹2,49,900
Leading Jewellers' Rates (as of September 14, 2026)
Leading jewellery retailers also reported largely stable prices. On September 14, 2026:
- Joyalukkas (22K): ₹14,040 per gram
- Malabar Gold & Diamonds (22K): ₹14,040 per gram
- Malabar Gold & Diamonds (24K): ₹15,284 per gram
- Tanishq (22K): ₹14,085 per gram
- Tanishq (24K): ₹15,365 per gram
Minor differences in retail prices among jewellers are typically influenced by brand-specific policies, procurement costs, and local market conditions, while broader bullion trends continue to guide overall pricing.