Gold and silver prices edged higher in India on Monday, October 26, recovering slightly from recent declines. The latest movement comes after international gold prices slipped below the $4,000-per-ounce mark last week, recording their steepest weekly fall in more than four months.
The price of 24-karat gold increased by 0.21% to ₹1,42,810 per 10 grams, while silver rose 0.36% to ₹1,97,300 per kilogram compared with October 25.
In the domestic futures market, gold contracts on the Multi Commodity Exchange (MCX) were trading 0.21% higher at around ₹1,42,810 per 10 grams. Silver futures advanced approximately 0.37% to ₹1,97,303 per kilogram at around 9:13 am on October 26.
Despite Monday’s recovery, the recent decline in international gold prices remains a key development for bullion markets.
Gold Prices Fell Below $4,000 Last Week
International gold prices came under pressure on Friday, falling to a three-month low as rising energy prices fuelled inflation concerns and strengthened expectations that US interest rates could remain elevated.
Spot gold declined 0.6% to $3,998.49 per ounce at 2:27 pm EDT, slipping below $4,000 for the first time since mid-July. The metal lost around 4% over the week, putting it on track for its steepest weekly decline since June.
US gold futures for December delivery settled 1.3% lower at $4,007.90 per ounce.
Expectations surrounding the US Federal Reserve’s upcoming meeting also remained in focus, with concerns about inflation and interest rates weighing on gold prices.
Monday’s increase in Indian gold and silver prices therefore comes after a difficult week for international bullion.
Gold and Silver Rates Today in Major Indian Cities
Gold prices vary across cities. Here are the reported rates for 24-karat gold, 22-karat gold and 999-fine silver on October 26.
| City | 24K Gold (10g) | 22K Gold (10g) | Silver 999 (1kg) |
|---|---|---|---|
| New Delhi | ₹1,42,300 | ₹1,30,442 | ₹1,96,330 |
| Mumbai | ₹1,42,540 | ₹1,30,662 | ₹1,96,670 |
| Bengaluru | ₹1,42,650 | ₹1,30,763 | ₹1,96,820 |
| Kolkata | ₹1,42,350 | ₹1,30,488 | ₹1,96,410 |
| Hyderabad | ₹1,42,770 | ₹1,30,873 | ₹1,96,980 |
| Chennai | ₹1,42,780 | ₹1,30,882 | ₹1,96,509 |
Among the listed cities, Chennai recorded the highest reported 24-karat gold price at ₹1,42,780 per 10 grams, narrowly ahead of Hyderabad at ₹1,42,770.
New Delhi had the lowest reported 24-karat gold rate among these six cities, at ₹1,42,300 per 10 grams.
For silver, Hyderabad recorded the highest listed rate at ₹1,96,980 per kilogram, while New Delhi had the lowest at ₹1,96,330.
These figures represent the reported city-wise rates and may differ from the final prices offered by individual jewellers.
24-Karat vs 22-Karat Gold: What Is the Difference?
Gold is sold in different purity levels, which influence its suitability for jewellery and investment.
24-karat gold is the purest commonly traded form of gold, making it suitable for buyers looking for high-purity gold. However, its relatively soft nature makes it less suitable for many types of everyday jewellery.
22-karat gold contains a higher proportion of gold than many lower-purity jewellery alloys and is commonly used for jewellery because the additional metals make it more durable.
Silver is also sold in different purity grades. 999-fine silver contains 99.9% silver and is commonly used for investment products such as bars and coins.
Will Gold and Silver Continue to Recover?
The latest domestic gains offer some relief after the recent weakness in international gold prices. However, the direction of bullion prices remains closely linked to inflation concerns, energy prices and expectations surrounding US monetary policy.
For Indian buyers, the city-wise rates provide a useful reference when comparing prices before purchasing gold jewellery or silver. The final amount payable may vary depending on the seller, applicable taxes and jewellery-making charges.
While gold and silver both recorded gains on October 26, the international market’s recent decline highlights how quickly bullion prices can change. Buyers may want to check the latest rates with local jewellers before making a purchase.
Also Read: Gold Rate Today, October 23: 24K Gold at Rs 1.43 Lakh, Silver Near Rs 2 Lakh; Check City-Wise Prices
