Precious metal prices in India remained largely stable on August 23, 2026, despite a prevailing weakness observed in international bullion markets. This stability comes as market participants closely monitor global economic data, US interest rate expectations, and currency movements for future direction.
MCX Performance on August 23
On the Multi Commodity Exchange (MCX), gold futures saw a marginal increase, rising by 0.60% to settle at ₹1.45 lakh per 10 grams. Silver futures also experienced an upward trend, climbing by approximately 0.99% to reach ₹2.23 lakh per kilogram at the time of reporting.
Retail Gold Rates Across Major Indian Cities
In the retail market, gold is primarily traded in two purities: 24-karat and 22-karat. While 24-karat is considered the purest form, 22-karat gold is widely preferred for jewellery due to its enhanced strength and durability from alloyed metals.
24K Gold Rates (per 10 grams)
- Delhi: ₹1,60,640
- Mumbai: ₹1,60,490
- Bengaluru: ₹1,60,640
- Kolkata: ₹1,60,490
- Hyderabad: ₹1,60,490
- Chennai: ₹1,60,640
22K Gold Rates (per 10 grams)
- Delhi: ₹1,47,260
- Mumbai: ₹1,47,110
- Bengaluru: ₹1,47,260
- Kolkata: ₹1,47,110
- Hyderabad: ₹1,47,110
- Chennai: ₹1,47,260
Retail Silver Rates Across Major Indian Cities
Silver prices also showed city-specific variations on August 23, 2026:
Silver Rates (per kilogram)
- Delhi: ₹2,77,100
- Mumbai: ₹2,76,100
- Bengaluru: ₹2,72,100
- Kolkata: ₹2,72,100
- Hyderabad: ₹2,81,100
- Chennai: ₹2,78,100
Jeweller-Specific Gold Rates
Leading jewellery retailers also quoted stable prices on August 23, 2026. Joyalukkas and Malabar Gold & Diamonds both offered 22K gold at ₹13,200 per gram across various Indian states. Tanishq's 22K gold rate stood slightly higher at ₹13,245 per gram. For 24-karat gold, Malabar Gold & Diamonds quoted ₹14,422 per gram, while Tanishq's rate was an estimated ₹14,415 per gram.
Marginal differences in retail prices among jewellers are typically influenced by brand-specific policies, procurement costs, and local market dynamics, while broader bullion trends continue to dictate overall gold and silver prices.