Gold and Silver Prices Remain Subdued in Indian Markets on October 5 2026

On October 5, 2026, gold and silver prices in India remained subdued, with rates under pressure across major gold purities. The benchmark price of gold stood at around ₹1,49,040 per 10 grams, while silver was quoted at ₹2,26,380 per kg. On the Multi Commodity Exchange (MCX), gold futures declined 0.98% to ₹1,48,910 per 10 grams, while silver futures saw a marginal gain of 0.14%, trading at around ₹2,26,189 per kg.

Retail buyers typically purchase gold in 24-carat and 22-carat variants. While 24-carat gold is the purest form, 22-carat gold is more popular for jewelry due to its durability and suitability for everyday use. Several factors influence gold and silver prices in India, including global bullion prices, movements of the US dollar against the Indian rupee, and domestic buying trends.

Prices varied across cities. In Delhi, 24-carat gold was priced at ₹1,48,650 per 10 grams, while in Chennai, it reached ₹1,49,340 per 10 grams. Silver prices remained consistent across cities, quoted at ₹2,26,380 per kg. Expectations around the upcoming festive season also shape retail demand for precious metals.

Benchmark bullion rates do not reflect the final price consumers pay for jewelry. Gold purchases in India attract a 3% GST on the metal value, with an additional 5% GST on jewelry-making charges. Local market conditions, import duties, transportation costs, and other regional charges can also cause variations in prices across cities.