Gold and Silver Prices Remain Steady Across Major Indian Cities
Gold and silver prices in India remained steady on October 5, 2026, influenced by global bullion trends and currency dynamics. In major cities like Delhi, Mumbai, and Bengaluru, 24-karat gold was priced between ₹1,48,650 and ₹1,49,340 per 10 grams, while 22-karat gold ranged from ₹1,36,263 to ₹1,36,895 per 10 grams. Silver prices were consistent across all listed cities at ₹22,638 per 100 grams and ₹2,26,380 per kilogram.
Leading jewellers such as Joyalukkas, Malabar Gold & Diamonds, and Tanishq maintained unchanged rates for 22K gold at ₹13,675 per gram, except for Tanishq, which listed it at ₹13,720 per gram. For 24K gold, Malabar quoted ₹14,918 per gram, and Tanishq stood at ₹14,967 per gram. Minor price variations among retailers were attributed to store-level pricing, inventory costs, and logistics.
Analysts continue to speculate on gold's long-term trajectory, with some predicting significant upward movements. Jefferies' Christopher Wood, for instance, anticipates gold reaching $10,000 'sooner or later.' The physical retail market in India predominantly favors 22-karat gold for its durability in crafting ornaments, while 24-karat gold represents pure gold.
Prices in India are also shaped by factors like import duties, local transport surcharges, and anticipatory retail demand ahead of peak festival shopping. The rates quoted reflect base bullion prices, with additional GST charges applied on the value of the metal and jewellery making charges.