Gold, Silver Rates Rise Today: Check 24K, 22K Prices

MUMBAI — Gold and silver prices in major Indian metro cities recorded gains on Friday morning. According to updated market benchmark data released on 7 August 2026, retail rates for 24-karat gold rose across key metro hubs, reflecting local spot demand and broader international metal trends. The benchmark price for 24-karat gold in Mumbai stood at ₹1,46,897 per 10 grams, while 22-karat gold recorded ₹1,34,655 per 10 grams. Meanwhile, spot retail silver moved up to ₹2,27,915 per kilogram.

City-Wise Gold and Silver Rates Breakdown

Price variations across regional centers remain tied to local transportation costs, state levies, and regional demand dynamics.

• Mumbai: Retail 24-karat gold opened at ₹1,46,897 per 10 grams, whereas 22-karat gold hovered around ₹1,34,655 per 10 grams. Fine silver (999 purity) traded at ₹2,27,915 per kilogram.

• Delhi: National capital trading desks quoted 24-karat retail gold (999 purity) at ₹1,47,097 per 10 grams. Spot silver was priced at ₹2,27,990 per kilogram.

• Kolkata: Traders in Kolkata reported 24-karat gold at ₹1,46,697 per 10 grams. Silver retail rates stood at ₹2,28,015 per kilogram.

• Bengaluru & Chennai: In Bengaluru, 24-karat gold registered at ₹1,47,087 per 10 grams. Chennai witnessed 24-karat gold trading at ₹1,47,182 per 10 grams, with silver opening at ₹2,28,015 per kilogram.

All quoted retail figures remain subject to local making charges and applicable statutory taxes, including a 3% Goods and Services Tax (GST).

Market Context and Economic Drivers

Bullion analysts indicate that short-term volatility in gold and silver stems from fluctuating foreign exchange rates and steady domestic physical demand. Central bank reserve policies, macro-inflation trends, and global spot prices continue to act as primary levers for daily domestic rate adjustments.

The benchmark figures provided by industry associations serve as mandatory references for non-banking financial companies (NBFCs) and commercial banks offering gold loans, as well as institutional financial evaluations.

Official Sources Section

Reference rates and market metrics in this report reflect public market figures published by the India Bullion and Jewellers Association and daily trading updates from domestic exchange desks. Further context on institutional guidelines regarding precious metal valuations is maintained by the Reserve Bank of India.

Quote Section

According to official bullion market statements, "Daily reference prices account for prevailing international spot market activity, currency fluctuations against the U.S. dollar, and regional demand factors. Consumers should note that listed rates exclude localized jeweller making charges and GST."

Why It Matters

Fluctuations in bullion prices directly impact consumer purchasing power ahead of key festive and wedding seasons. Additionally, daily rate shifts alter loan-to-value calculations for citizens seeking loans against gold jewellery, influencing credit liquidity for households and small business owners.

Key Facts at a Glance

• Mumbai Benchmark: 24K gold stands at ₹1,46,897 per 10g; silver at ₹2,27,915 per kg.

• Highest Regional Rate: Chennai quoted 24K gold at ₹1,47,182 per 10g.

• Taxation: Base reference rates exclude local making charges and the standard 3% GST rate.

• Institutional Use: Benchmark daily rates determine gold loan valuations across commercial banks.

FAQ Section

How do 24-karat and 22-karat gold differ in retail pricing?

24-karat gold represents 99.9% pure gold, ideal for bullion coins and bars. 22-karat gold contains 91.6% pure gold mixed with alloy metals to provide durability for jewellery, resulting in a lower market rate per gram.

Why do gold rates differ slightly from city to city?

Price variances across Indian cities are driven by freight costs, regional demand, transportation insurance, and local bullion association rate setups.

Does the listed daily rate include GST?

No. Daily reference prices published by official bullion bodies represent pure base prices. Final retail purchases at jewellers include an additional 3% GST plus applicable making charges.

Featured Image Suggestion: A high-resolution photograph showing gold bars and silver bullion coins placed on a trading desk next to a digital price ticker displaying real-time financial market charts.

Source: India Bullion and Jewellers Association, Reserve Bank of India, All India Bullion.