Gold and silver prices on October 21, 2026, are closely watched by buyers preparing for the upcoming Dhanteras and Diwali festivals. This article provides current rates for 24K, 22K, and 18K gold and silver in 10 major Indian cities, along with important tips for consumers planning festive purchases.
- Gold futures traded 0.40% lower at ₹1,45,939 per 10 grams on MCX.
- Silver futures declined approximately 0.94% to ₹2,09,494 per kilogram on MCX.
- Retail gold prices vary by city and jeweller due to GST, making charges, and other costs.
- Dhanteras, a traditional day for buying gold and silver, falls on November 6, 2026.
- Consumers should verify gold purity, hallmarking, and jeweller policies before purchase.
What Are the Current Gold and Silver Prices in Major Cities?
On October 21, 2026, MCX gold futures were trading at ₹1,45,939 per 10 grams, down 0.40% from previous levels. Silver futures on MCX declined by about 0.94%, reaching ₹2,09,494 per kilogram. Retail prices for gold and silver vary across cities such as Delhi, Mumbai, and Chennai, and among different jewellers. These variations arise from factors like GST, making charges, and retailer-specific costs.
Why Do Retail Gold Prices Differ from Bullion Rates?
The final price of gold jewellery is often higher than the quoted bullion rate. This increase is due to applicable Goods and Services Tax (GST), making charges, and other costs set by jewellers. Making charges depend on the design complexity, craftsmanship, and jeweller policies. Therefore, consumers should expect some variation in prices when purchasing jewellery compared to raw bullion rates.
When Is Dhanteras and Why Is It Important for Gold and Silver Buyers?
Dhanteras will be observed on Friday, November 6, 2026. It is a significant day in the Hindu calendar traditionally associated with buying gold, silver coins, and jewellery. Purchasing precious metals on Dhanteras is believed to bring prosperity and good fortune. As the festival approaches, many households plan their festive shopping around these auspicious dates.
What Should Consumers Consider Before Buying Gold or Silver Jewellery?
Buyers should compare rates across cities and jewellers before making purchases. It is important to request a detailed invoice that includes gold purity, net gold weight, rate per gram, making charges, and applicable taxes. Checking for hallmarking ensures the authenticity and quality of the gold. Additionally, consumers should verify the jeweller's exchange and buyback policies to protect their investment.
How Have Gold Prices Performed Recently?
Gold prices remained largely unchanged in the week ending October 16, 2026. The LBMA Gold Price PM closed at US$4,189 an ounce, showing a slight 0.1% increase week-on-week. However, gold prices are still down 4.1% year-to-date. Despite this, gold-backed exchange-traded funds (ETFs) have seen strong investor interest, with global inflows reaching US$10 billion in September and a record US$31 billion in the third quarter of 2026.
Are Gold ETFs a Good Investment?
Gold ETFs indicate demand for gold-backed investment products but do not guarantee price gains. Investors should consider price volatility, associated costs, and their own financial goals before investing in gold ETFs or physical gold.
