On October 11, 2026, the Indian gold and silver markets exhibited broad stability across all purities, including 24-carat, 22-carat, and 18-carat. The benchmark rate for gold was recorded at ₹1,51,710 per 10 grams, while silver traded at ₹2,26,120 per kilogram.
Despite the overall stability in physical markets, futures contracts on the Multi Commodity Exchange (MCX) saw minor upticks. Gold futures edged up by 1.27% to ₹1,51,503 per 10 grams, and silver futures experienced a slight increase of 0.03%, reaching approximately ₹2,25,820 per kilogram.
Factors Influencing Precious Metal Prices
Indian precious metal prices are primarily shaped by international spot bullion trends, the dynamics of the USD/INR currency exchange rate, and anticipated retail demand, especially with the festive shopping season approaching. Globally, higher interest rates continue to pose a challenge for non-yielding gold, while ongoing global economic risks and escalating geopolitical tensions in the Middle East also contribute to market sentiment.
When purchasing gold in India, consumers incur a standard 3% Goods and Services Tax (GST) on the metal's value, along with an additional 5% GST on jewellery making charges. Regional price variations across states are also influenced by import duties and local transport surcharges.
City-Wise Gold and Silver Rates
Here are the latest gold rates for October 11, 2026, across major Indian cities:
- In Delhi, 24-carat gold was priced at ₹1,51,170 per 10 grams, and 22-carat gold at ₹1,38,573 per 10 grams.
- Mumbai saw 24-carat gold at ₹1,51,430 per 10 grams and 22-carat gold at ₹1,38,811 per 10 grams.
- In Bengaluru, 24-carat gold stood at ₹1,51,550 per 10 grams, with 22-carat gold at ₹1,38,921 per 10 grams.
- Kolkata reported 24-carat gold at ₹1,51,230 per 10 grams and 22-carat gold at ₹1,38,628 per 10 grams.
- For Hyderabad, 24-carat gold was ₹1,51,670 per 10 grams, and 22-carat gold was ₹1,39,031 per 10 grams.
- Chennai recorded the highest rates among these cities, with 24-carat gold at ₹1,51,870 per 10 grams and 22-carat gold at ₹1,39,214 per 10 grams.
Silver prices across Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai were uniformly quoted at ₹2,26,120 per kilogram on October 11, 2026.
Understanding Gold Purity and Retailer Prices
In the physical retail market, gold is primarily available in 24-karat and 22-karat options. While 24-karat represents pure gold, 22-karat gold is commonly preferred for crafting ornaments due to its enhanced durability, achieved by mixing with other alloys.
Leading retail jewellery chains maintained largely consistent prices. Major brands like Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,880 per gram across most states. Tanishq listed its 22K gold rate at ₹13,925 per gram. For 24-carat gold, Malabar quoted ₹15,142 per gram, while Tanishq stood at ₹15,191 per gram. Minor disparities among retailers typically arise from store-specific pricing structures, inventory costs, and regional logistics.