Gold and silver prices remained in focus on Wednesday, October 28, as buyers and investors tracked the latest retail rates across India. The price of 24-karat gold in Mumbai stood at ₹1,44,230 per 10 grams, while silver of 999 purity was priced at ₹1,96,350 per kilogram in Delhi. Precious metal prices continued to reflect changing market sentiment, currency movements and expectations surrounding the latest US Federal Reserve policy decision.
Gold remains an important purchase for Indian households, particularly during the festive and wedding seasons. However, elevated prices have made buyers more careful about the quantity they purchase and the timing of their purchases. Investors, meanwhile, continue to monitor gold and silver as assets that can offer diversification during periods of economic and geopolitical uncertainty.
In Mumbai, the 24K gold rate stood at ₹1,44,230 per 10 grams. The price of 22K gold was ₹1,32,211, while 18K gold was available at ₹1,08,173 per 10 grams. Silver prices also remained elevated, with buyers keeping a close watch on daily changes in the precious metals market.
In Delhi, 24K gold was priced at ₹1,43,980 per 10 grams. The 22K gold rate stood at ₹1,31,982, while 18K gold was priced at ₹1,07,985 per 10 grams. Silver of 999 purity was quoted at ₹1,96,350 per kilogram.
Bengaluru recorded a 24K gold price of ₹1,44,340 per 10 grams. The 22K gold rate stood at ₹1,32,312, while 18K gold was priced at ₹1,08,255 per 10 grams. Silver was quoted at ₹1,96,840 per kilogram, placing the city among the higher-priced centres in the comparison.
In Kolkata, 24K gold was priced at ₹1,43,610 per 10 grams. The rate for 22K gold stood at ₹1,31,643, while 18K gold was available at ₹1,07,708 per 10 grams. Silver of 999 purity was priced at ₹1,95,820 per kilogram.
Chennai recorded a 24K gold price of ₹1,44,210 per 10 grams. The 22K gold rate stood at ₹1,32,193, while 18K gold was priced at ₹1,08,158 per 10 grams. Silver was quoted at ₹1,96,650 per kilogram.
In Hyderabad, 24K gold was priced at ₹1,44,020 per 10 grams, while 22K gold stood at ₹1,32,018 and 18K gold at ₹1,08,015 per 10 grams. Silver was quoted at ₹1,96,390 per kilogram. In Ahmedabad, the 24K gold rate stood at ₹1,43,960 per 10 grams, 22K gold at ₹1,31,963 and 18K gold at ₹1,07,970. Silver was priced at ₹1,95,800 per kilogram.
The differences in gold and silver prices across cities can be attributed to local demand, transportation costs, taxes and jewellers’ pricing policies. Retail rates may also vary depending on the purity and form of the metal. Buyers should therefore confirm the applicable price with their jeweller before making a purchase.
Gold prices are influenced by several factors, including interest-rate expectations, inflation, currency movements and demand for safe-haven assets. When investors become concerned about economic conditions or geopolitical developments, gold can attract buying interest. However, its price can also come under pressure when financial markets expect interest rates to remain high, as interest-bearing investments may become more attractive.
The Federal Reserve’s policy decision remained an important factor for global financial markets on Wednesday. Changes in interest-rate expectations can influence investor demand for precious metals and affect currency movements. For Indian buyers, fluctuations in the rupee’s value also matter because they can change the domestic cost of imported gold, even when international prices are relatively stable.
Silver prices are shaped by both investment demand and industrial consumption. The metal is widely used in electronics, solar panels and other manufacturing applications. Expectations about industrial activity, renewable energy investments and global economic growth can therefore influence silver prices alongside broader movements in the precious metals market.
For consumers planning to buy jewellery, the quoted gold rate is not necessarily the final amount payable. Making charges, applicable taxes and other costs can increase the final bill. Buyers should compare prices across established jewellers, check hallmarking and confirm the purity of the gold before completing a transaction.
Investors should also distinguish between physical gold, silver jewellery, exchange-traded funds and commodity futures, as each carries different costs and risks. Short-term price movements can be unpredictable, making it important to consider investment objectives and risk tolerance before making decisions.
With gold priced at ₹1,44,230 per 10 grams in Mumbai and silver at ₹1,96,350 per kilogram in Delhi, consumers will continue to monitor daily retail rates before making purchases. The direction of precious metals prices will depend on global financial conditions, currency movements, investment demand and developments affecting the wider economy.