Overview of Today's Precious Metal Rates
Precious metal prices in India showed largely stable trends on August 28, 2026, with global market weakness playing a significant role. Despite minor fluctuations in futures trading, retail rates for both gold and silver held steady across major cities.
On the Multi Commodity Exchange (MCX), gold futures saw a marginal increase of 0.56%, trading at approximately ₹1.59 lakh per 10 grams. Silver futures also registered a rise of 0.74%, reaching around ₹2.40 lakh per kilogram during morning trading.
Retail Gold Purity and Market Dynamics
In the retail sector, gold is primarily traded in two purities: 24-karat and 22-karat. While 24-karat gold is recognized as the purest form, 22-karat gold is widely preferred for crafting jewellery due to its enhanced strength and durability, attributed to alloyed metals.
Market participants continue to monitor a range of global economic indicators, including US interest rate expectations and currency movements, as these factors significantly influence the direction of precious metal prices.
Gold Rates Across Indian Metros (August 28, 2026)
- Delhi: 24K Gold at ₹1,59,040 per 10gm | 22K Gold at ₹1,45,787 per 10gm
- Mumbai: 24K Gold at ₹1,59,320 per 10gm | 22K Gold at ₹1,46,043 per 10gm
- Bengaluru: 24K Gold at ₹1,59,440 per 10gm | 22K Gold at ₹1,46,153 per 10gm
- Kolkata: 24K Gold at ₹1,59,110 per 10gm | 22K Gold at ₹1,45,851 per 10gm
- Hyderabad: 24K Gold at ₹1,59,570 per 10gm | 22K Gold at ₹1,46,273 per 10gm
- Chennai: 24K Gold at ₹1,59,780 per 10gm | 22K Gold at ₹1,46,465 per 10gm
Silver Rates in Key Cities (August 28, 2026)
- Delhi: ₹24,095 per 100gm | ₹2,40,950 per kg
- Mumbai: ₹24,137 per 100gm | ₹2,41,370 per kg
- Bengaluru: ₹24,156 per 100gm | ₹2,41,560 per kg
- Kolkata: ₹24,105 per 100gm | ₹2,41,050 per kg
- Hyderabad: ₹24,175 per 100gm | ₹2,41,750 per kg
- Chennai: ₹24,207 per 100gm | ₹2,42,070 per kg
Leading Jewellers Maintain Stable Pricing
Major jewellery retailers also reported largely stable gold prices on August 28. Joyalukkas and Malabar Gold & Diamonds both quoted 22K gold at ₹14,725 per gram across various Indian states. Tanishq's 22K gold rate stood slightly higher at ₹14,805 per gram.
For 24-karat gold, Malabar Gold & Diamonds offered rates at ₹16,064 per gram, while Tanishq's 24-karat gold was estimated at ₹16,151 per gram. Minor variations in retail prices among jewellers are typically influenced by specific brand policies, procurement expenses, and local market conditions, though overall bullion trends remain the primary guide.