Gold and Silver Prices Rise as October Begins
Gold and silver prices rose on October 1, at the start of the month. The price of 24-carat gold increased to ₹1,49,880 per 10 grams, while 22-carat gold was priced at ₹1,37,390 per 10 grams. Silver also gained, with a 999 fine silver rate of ₹2,24,720 per kilogram.
The prices can vary slightly between cities. According to Goodreturns, the 24-carat rate was ₹1,49,390 per 10 grams in Delhi, while Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune were at ₹1,49,240 per 10 grams.
For someone planning to purchase jewellery, it's more useful to check the rate quoted by the retailer than looking only at a bullion benchmark. Reported October 1 rates at major jewellery brands were: Tanishq at ₹1,37,550 for 22K and ₹1,50,050 for 24K; Malabar Gold & Diamonds at ₹1,37,100 for 22K and ₹1,49,560 for 24K; Joyalukkas at ₹1,36,800 for 22K and ₹1,49,240 for 24K; and Kalyan Jewellers at ₹1,36,491.70 for 22K and ₹1,48,900 for 24K.
When buying jewellery, it's essential to check the purity, gold rate per gram, making charges, and any other applicable costs. Comparing the final price across more than one jeweller can also be beneficial.