Higher interest rates remain a headwind for non-yielding gold, with markets also watching global economic risks and rising geopolitical tensions in the Middle East.
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In the physical retail market, gold is primarily bought in 24-karat and 22-karat options. While 24-karat represents pure gold, 22-karat remains the preferred choice for crafting ornaments because the mixed alloys deliver greater durability.
Prices in India remain anchored by international spot bullion trends, USD/INR currency dynamics, and anticipatory retail demand ahead of peak festival shopping.
The rates quoted in benchmark tables and store listings reflect base bullion prices. Retail gold purchases in India attract a standard 3% GST on the value of the metal, plus a separate 5% GST on the jewellery making charges. Import duties and local transport surcharges also influence regional price variations across states.
Check the latest gold rates here
| City | 24K Gold (₹ per 10gm) | 22K Gold (₹ per 10gm) |
| Delhi | ₹1,48,410 | ₹1,36,050 |
| Mumbai | ₹1,48,260 | ₹1,35,900 |
| Bengaluru | ₹1,48,260 | ₹1,35,900 |
| Kolkata | ₹1,48,260 | ₹1,35,900 |
| Hyderabad | ₹1,48,260 | ₹1,35,900 |
| Chennai | ₹1,48,260 | ₹1,35,900 |
Check the latest silver rates here
| City | Silver (₹ per 100gm) | Silver (₹ per kg) |
| Delhi | ₹23,500 | ₹2,35,000 |
| Mumbai | ₹23,500 | ₹2,35,000 |
| Bengaluru | ₹23,500 | ₹2,35,000 |
| Kolkata | ₹23,500 | ₹2,35,000 |
| Hyderabad | ₹24,500 | ₹2,45,000 |
| Chennai | ₹24,500 | ₹2,45,000 |
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Gold rates at top jewellers
Leading retail chains kept prices mostly unchanged on October 12, 2026. Major brands including Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,685 per gram across most states. Tanishq listed its 22K gold rate at ₹13,730 per gram. For 24-carat gold, Malabar quoted ₹14,929 per gram, while Tanishq stood at ₹14,978 per gram.
Minor retail rate disparities across brands stem from store-level pricing structures, inventory acquisition costs, and regional logistics, even as global commodity trends determine overall market direction.
| Jeweller | Purity | Rate (₹/gram) |
| Joyalukkas | 22K | 13,685 |
| Malabar Gold & Diamonds | 22K | 13,685 |
| Malabar Gold & Diamonds | 24K | 14,929 |
| Tanishq | 22K | 13,730 |
| Tanishq | 24K* | 14,978 |
*24K Tanishq rate estimated based on the prevailing purity premium over 22K gold.
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Joyalukkas 22K Gold Rate by State
| State | Rate (₹/gram) |
| Andhra Pradesh | 13,685 |
| Delhi | 13,685 |
| Gujarat | 13,685 |
| Karnataka | 13,685 |
| Kerala | 13,685 |
| Maharashtra | 13,685 |
| Odisha | 13,685 |
| Punjab | 13,685 |
| Tamil Nadu | 13,685 |
