Gold and silver prices remained under pressure in Indian markets on September 28, with rates tracked across 24-carat, 22-carat and 18-carat categories. The benchmark gold price stood at ₹1,51,136 per 10 grams, while silver was quoted at ₹2,29,318 per kg.
On the Multi Commodity Exchange (MCX), gold futures declined 1.85% to ₹1,48,097 per 10 grams. Silver futures also moved lower, falling 2.47% to around ₹2,28,900 per kg at the time of writing.
Gold Prices in Major Indian Cities
In the retail jewellery market, 24K and 22K gold remain the most commonly traded purities. While 24K gold is considered pure gold, 22K gold is widely used for jewellery because the addition of other metals makes it more durable for everyday use.
Gold prices in India are influenced by international bullion prices, movements in the US dollar against the Indian rupee and expected retail demand during the festival season.
The benchmark figures generally represent the underlying bullion price. Buyers should also account for a 3% GST on the value of gold and an additional 5% GST on jewellery-making charges. Import duties and transportation costs can also contribute to differences in prices between regions.
| City | 24K Gold (₹ per 10gm) | 22K Gold (₹ per 10gm) |
|---|---|---|
| Delhi | ₹1,50,920 | ₹1,38,343 |
| Mumbai | ₹1,51,180 | ₹1,38,582 |
| Bengaluru | ₹1,51,300 | ₹1,38,692 |
| Kolkata | ₹1,50,980 | ₹1,38,398 |
| Hyderabad | ₹1,51,420 | ₹1,38,802 |
| Chennai | ₹1,51,620 | ₹1,38,985 |
Silver Rates Across Cities
Silver prices were largely unchanged across the listed markets, with the metal quoted at ₹22,897 per 100 grams and ₹2,28,970 per kg.
| City | Silver (₹ per 100gm) | Silver (₹ per kg) |
|---|---|---|
| Delhi | ₹22,897 | ₹2,28,970 |
| Mumbai | ₹22,897 | ₹2,28,970 |
| Bengaluru | ₹22,897 | ₹2,28,970 |
| Kolkata | ₹22,897 | ₹2,28,970 |
| Hyderabad | ₹22,897 | ₹2,28,970 |
| Chennai | ₹22,897 | ₹2,28,970 |
Gold Rates at Major Jewellers
Major retail jewellery chains kept their gold prices unchanged on September 28, 2026. Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,995 per gram across most states, while Tanishq listed its 22K rate at ₹14,040 per gram.
For 24K gold, Malabar Gold & Diamonds quoted ₹15,267 per gram. Tanishq’s 24K rate stood at ₹15,316 per gram.
Differences between jewellers can arise from individual pricing structures, inventory costs and regional logistics, even when broader bullion market trends remain similar.
| Jeweller | Purity | Rate (₹/gram) |
|---|---|---|
| Joyalukkas | 22K | ₹13,995 |
| Malabar Gold & Diamonds | 22K | ₹13,995 |
| Malabar Gold & Diamonds | 24K | ₹15,267 |
| Tanishq | 22K | ₹14,040 |
| Tanishq | 24K* | ₹15,316 |
24K Tanishq rate estimated based on the prevailing purity premium over 22K gold.
Joyalukkas 22K Gold Rate by State
| State | Rate (₹/gram) |
|---|---|
| Andhra Pradesh | ₹13,995 |
| Delhi | ₹13,995 |
| Gujarat | ₹13,995 |
| Karnataka | ₹13,995 |
| Kerala | ₹13,995 |
| Maharashtra | ₹13,995 |
| Odisha | ₹13,995 |
| Punjab | ₹13,995 |
| Tamil Nadu | ₹13,995 |
Disclaimer: Gold and silver prices can change during the day and may vary between jewellers, cities and states. The rates mentioned above are based on the figures available for September 28, 2026. Buyers should confirm the final price, including applicable taxes, making charges and other costs, with the jeweller before making a purchase.