Gold and silver prices increased on October 1, 2026, making it important for buyers to check the latest rates before purchasing jewellery, coins, or bars. The headline price is just the starting point; additional costs like making charges and GST affect the final amount paid.
- 24-carat gold price: ₹1,49,880 per 10 grams
- 22-carat gold price: ₹1,37,390 per 10 grams
- 999 fine silver price: ₹2,24,720 per kilogram
- Prices vary slightly between cities
- Final jewellery price includes purity, making charges, and GST
What Are the Latest Gold and Silver Prices on October 1, 2026?
On October 1, 2026, the price of 24-carat gold was ₹1,49,880 per 10 grams. The 22-carat gold rate stood at ₹1,37,390 per 10 grams. Silver also saw an increase, with 999 fine silver priced at ₹2,24,720 per kilogram. These prices reflect the market movement at the start of the month.
How Do Gold Prices Differ Across Cities?
Gold prices can vary slightly depending on the city. For example, the 24-carat gold rate was ₹1,49,390 per 10 grams in Delhi. Cities like Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune reported a rate of ₹1,49,240 per 10 grams. Vadodara and Ahmedabad had a slightly higher rate of ₹1,49,290 per 10 grams.
For 22-carat gold, Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune showed rates of ₹1,36,800 per 10 grams. Delhi’s rate was ₹1,36,950, while Vadodara and Ahmedabad were at ₹1,36,850 per 10 grams.
Silver prices also showed variation. Chennai, Hyderabad, and Kerala recorded ₹2,400 per 10 grams (₹2,40,000 per kilogram), whereas Mumbai, Delhi, Kolkata, Bengaluru, Pune, Vadodara, and Ahmedabad had rates of ₹2,350 per 10 grams (₹2,35,000 per kilogram).
Why Is the Retail Price Different from Market Prices?
The gold prices quoted on the Multi Commodity Exchange (MCX) represent futures-market prices. However, the price you pay at a jewellery store can be different because it includes making charges, GST, and other costs. Therefore, the retail price is more relevant when buying jewellery.
What Should Buyers Consider When Purchasing Gold or Silver Jewellery?
Buyers should first check the purity of the gold or silver. For example, 22-carat gold jewellery contains less pure gold than 24-carat gold investment products, so their prices are not directly comparable.
Next, check the gold rate per gram and inquire about making charges and any additional fees. It is important to ask the jeweller for a clear breakdown of all costs before making a payment.
Comparing prices across multiple jewellers can help buyers find the best deal, especially during the festive and wedding seasons when demand is high.
Frequently Asked Questions
Q: Why do gold prices vary between cities?
A: Gold prices vary due to differences in local taxes, demand, and supply conditions in each city.
Q: What are making charges?
A: Making charges are fees charged by jewellers for crafting the jewellery, which are added to the gold price.
Q: How does purity affect gold price?
A: Higher purity gold, like 24-carat, contains more pure gold and is priced higher than lower purity gold such as 22-carat.
Q: Is the MCX gold price the same as retail price?
A: No, MCX gold price is a futures-market price and does not include making charges or GST, which affect the retail price.
With the festive and wedding seasons approaching, understanding these factors can help households make informed decisions when buying gold or silver jewellery.
