Gold Prices Remain Steady in India Amid Global Market Shifts
Gold prices in India remained steady on Monday, October 5, 2026, across major jewellery brands in key cities, according to The Economic Times. However, the India Bullion and Jewellers Association (IBJA) reported a slight decline in its indicative rates for gold and silver compared to the previous evening. Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd. and President of IBJA, attributed the recent downturn in gold prices to early Federal Reserve hike fears, a stronger dollar, and elevated Treasury yields.
The IBJA's latest data showed a marginal decrease in gold prices across different karats. Fine gold (999) fell by ₹35 to ₹14,779 per gram, while 22K gold dropped ₹34 to ₹14,424 per gram. Silver prices, on the other hand, saw a slight increase of ₹2,105 to ₹2,22,934 per kilogram.
In major cities like Delhi, Mumbai, Chennai, Kolkata, Trivandrum, and Bengaluru, the prices for 22K gold jewellery remained consistent at leading jewellers. Tanishq's price was ₹13,720 per gram, while Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas offered it at ₹13,675 per gram. The stability in prices suggests a calm market despite the recent fluctuations in global factors.
Kothari also highlighted that the US-Iran standoff kept oil and rate expectations elevated, which could impact gold prices moving forward. Key events this week, including the RBI policy on October 7, Fed speakers, and US data releases, are expected to influence market sentiment. Support levels for gold are identified at $4,110 and the psychological $4,000 mark.