Gold Price Today in India: Where Rates…

This article summarizes press coverage and market data from October 8–16, 2026 for informational purposes. It is not investment advice. Gold and silver prices change daily and differ by city.

Key Takeaways

On Friday, October 16, MCX December gold futures traded around ₹1,47,800 per 10 grams. Delhi 24-carat gold was quoted near ₹1,47,730, Mumbai near ₹1,47,980.
Delhi 22-carat gold was about ₹1,35,419 per 10 grams, the form most jewellery is sold in.
Silver was around ₹2.12 lakh per kg on MCX and in Delhi, down from about ₹2.24 lakh on October 8.
Gold is roughly 8 to 9% below its mid-May level above ₹1.6 lakh, but it is still very high by any past Dhanteras.
Dhanteras falls in early November. Confirm the exact date and muhurat with a calendar before you plan a purchase.

How gold moved this month

Gold has been choppy rather than trending. MCX December futures were near ₹1,49,800 on October 8, slipped to about ₹1,48,500 on October 14, and rose about 1% on October 15 before edging up again on Friday. Silver fell more sharply over the same period, from about ₹2.24 lakh to about ₹2.12 lakh per kg.

Prices rose sharply in May after the government raised the import duty on gold from 6% to 15%, and futures went above ₹1.6 lakh per 10 grams. They have eased since, with the gap partly reflecting profit booking.

Why your local price may differ

The prices above are benchmark rates. What you actually pay at a jeweller depends on:

City and jeweller. Rates vary slightly by city, and Mumbai and Delhi quotes differ by a few hundred rupees.
Purity. 24-carat is about 99.9% pure, while 22-carat (used in jewellery) costs less per gram.
GST. 3% is added on top of the metal price.
Making charges. These are usually a percentage of the gold value and can be negotiated.

What buyers usually consider before Dhanteras

Coins and bars vs jewellery. Coins carry lower making charges, while jewellery costs more but is wearable.
Gold ETFs and digital options. These avoid storage and making charges. Digital gold platforms are not regulated like ETFs, so check what protections apply.
Hallmarking. Look for the BIS hallmark and HUID on jewellery.
Bills and buyback terms. Keep the invoice and ask about the jeweller's buyback and exchange policy.
Timing. Prices can move 1% in a day, so spreading purchases out is one common way buyers manage that risk.

What this means if you are tracking gold

Do not assume prices must rise before Diwali. Gold fell from its May level and has moved sideways this month.
Compare the total cost, not just the rate. GST and making charges change the real price more than a day's move does.
Decide your purpose first. Buying for jewellery, gifting or investment points to different products.

Frequently Asked Questions

What is the gold price in India today? On October 16, 2026, Delhi 24-carat gold was around ₹1,47,730 per 10 grams. Check a live source on the day you buy.

Why is gold so expensive in 2026? Coverage points to strong demand, global uncertainty, and a higher import duty (15%) introduced in May.

What is the difference between 22-carat and 24-carat gold? 24-carat is nearly pure gold. 22-carat is mixed with other metals so it is durable enough for jewellery.

Is Dhanteras a good time to buy gold? It is a traditional buying occasion. Whether it is financially a good time depends on the price that day and your reason for buying.

Sources & References

Angel One, "Gold and Silver Prices Across New Delhi, Mumbai, and Chennai" (October 8, 14, 15 and 16, 2026)
India TV News, MCX gold price coverage (May–June 2026)

Gold Price Today in India: Where Rates Stand Before Dhanteras 2026, and What Buyers Should Check