Gold Nears ₹1.50 Lakh as Silver Eyes ₹2.27 Lakh in Indian Markets

Gold prices in India hovered near the ₹1.50 lakh mark per 10 grams for 24-karat gold on October 7, 2026, while silver prices neared ₹2.27 lakh per kilogram. These fluctuations are influenced by global spot bullion trends, the exchange rate between the US dollar and Indian rupee, and the anticipation of increased retail demand during the upcoming festival season.

The rates listed in benchmark tables and storefronts represent the base price of the metal. However, retail purchases of gold in India are subject to a 3% GST on the metal's value and an additional 5% GST on jewelry-making charges. Import duties and local transportation costs further contribute to regional price variations across different states.

Leading jewellers maintained steady prices on October 7, 2026. Joyalukkas and Malabar Gold & Diamonds listed 22-karat gold at ₹13,770 per gram across most states, while Tanishq priced it at ₹13,815 per gram. For 24-karat gold, Malabar quoted ₹15,022 per gram, and Tanishq stood at ₹15,071 per gram. Minor differences in retail prices among brands arise from store-level pricing, inventory costs, and logistics, even though global commodity trends dictate the broader market direction.