Precious metal prices in India showed broad stability on October 13, 2026, with only slight movements observed in futures markets. While this report is published today, the quoted rates largely reflect market trends from October 11 and October 12, 2026, as leading retailers maintained consistent pricing.
Higher interest rates continue to pose a headwind for non-yielding gold. Investors are also closely monitoring global economic risks and rising geopolitical tensions in the Middle East, which can influence safe-haven demand for precious metals.
National Gold and Silver Benchmarks
Benchmark rates for 24-carat gold stood at ₹1,49,750 per 10 grams. For silver, the benchmark rate was ₹2,22,580 per kilogram.
On the Multi Commodity Exchange (MCX), gold futures saw a marginal increase of 0.04%, trading at ₹1,49,599 per 10 grams. Conversely, silver futures experienced a slight dip of 0.04%, settling around ₹2,22,790 per kilogram at the time of reporting.
City-Wise Retail Prices Across India
In the physical retail market, 24-carat gold was priced at approximately ₹1,49,670 per 10 grams in major cities like Mumbai, Bengaluru, Kolkata, and Chennai. Delhi saw a slightly higher rate at ₹1,49,810 per 10 grams. For 22-carat gold, a common choice for jewellery, the rate was around ₹1,37,190 per 10 grams in most of these cities, with Delhi at ₹1,37,340.
Silver rates also showed consistency. In Delhi, Mumbai, Bengaluru, and Kolkata, silver was priced at ₹2,39,900 per kilogram (or ₹23,990 per 100 grams). Hyderabad and Chennai had slightly higher rates at ₹2,44,900 per kilogram (or ₹24,490 per 100 grams).
Leading Jewellers' Rates
Major retail chains, including Joyalukkas and Malabar Gold & Diamonds, quoted 22-carat gold at ₹13,720 per gram across most states. Tanishq listed its 22-carat gold at ₹13,765 per gram. For 24-carat gold, Malabar quoted ₹14,967 per gram, while Tanishq was at ₹15,016 per gram.
Factors Influencing Prices
Indian gold prices are primarily influenced by international spot bullion trends, the dynamics of the USD/INR currency exchange rate, and anticipatory retail demand, especially ahead of peak festival shopping seasons.
Retail gold purchases in India are subject to a standard 3% Goods and Services Tax (GST) on the metal's value, alongside a separate 5% GST on jewellery making charges. Import duties and local transport surcharges also contribute to regional price variations across different states.