Gold and silver prices saw minimal movement on August 31, 2026, as a subdued international bullion market tempered domestic rates. Market participants continue to closely monitor global economic data, US interest rate expectations, and currency fluctuations for future direction in precious metal valuations.
MCX Futures Show Slight Dip
On the Multi Commodity Exchange (MCX), gold futures experienced a marginal decline of 1.63%, settling at ₹1,56,400 per 10 gm. Silver futures also registered a fall, down 2.07% to trade at approximately ₹2,42,670 per kg at the time of reporting.
Retail Spot Prices Across Key Indian Cities
In the retail market, 24-karat gold was priced uniformly across major metropolitan areas including Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai.
- 24K Gold: ₹158,390 per 10 gm
- 22K Gold: ₹145,200 per 10 gm
For silver, the rates also remained consistent across these cities:
- Silver: ₹25,410 per 100 gm
- Silver: ₹254,100 per kg
Jeweller Rates for Gold
Leading jewellery retailers also reported largely stable prices for gold on August 31, 2026. Joyalukkas and Malabar Gold & Diamonds quoted 22-karat gold at ₹14,505 per gram across several Indian states. Malabar's 24-karat gold rate stood at ₹15,824 per gram, while Tanishq's 24-karat gold was estimated at ₹15,873 per gram, with its 22-karat offering at ₹14,550 per gram.
Understanding Gold Purity
Gold in the retail market is primarily traded in two purities: 24-karat and 22-karat. While 24-karat gold represents the purest form of the metal, 22-karat gold is widely preferred for crafting jewellery. This preference is due to its enhanced strength and durability, attributed to the presence of alloyed metals which make it more resilient for intricate designs.