Gold and silver prices in India remained broadly stable in the physical retail market, with benchmark gold priced at ₹1,51,720 per 10 grams and silver at ₹2,26,140 per kilogram, according to rates reported on October 12, 2026. Buyers should check local jewellers for city-specific prices before making a purchase, as retail rates can vary across locations.
Gold is commonly sold in 24-karat, 22-karat and 18-karat varieties. While 24-karat gold represents the highest purity, 22-karat gold is widely used for jewellery because its alloy content makes it more durable. Eighteen-karat gold contains a higher proportion of alloying metals and is often used for certain jewellery designs.
In the futures market, gold contracts on the Multi Commodity Exchange (MCX) rose 1.27% to ₹1,51,503 per 10 grams at the time of reporting. Silver futures edged up 0.03% to approximately ₹2,25,820 per kilogram.
The difference between physical-market prices and futures prices reflects the fact that they represent separate market segments. Retail buyers should also account for applicable taxes and jewellery-making charges when estimating the final cost. In India, gold purchases generally attract 3% GST on the value of the metal, while jewellery-making charges attract a separate 5% GST where applicable.
Since prices fluctuate with market conditions, buyers should confirm the latest local rates and the purity of the product before purchasing gold or silver.
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