Gold and silver prices rebounded on Monday, October 26, after declining sharply last week, offering some relief to buyers ahead of Dhanteras and Diwali. Prices recovered in the domestic futures market, supported by a positive global trend and firm spot demand, although uncertainty over interest rates and inflation continued to influence sentiment.
On the Multi Commodity Exchange (MCX), gold futures for December delivery rose by ₹817, or 0.58%, to ₹1,42,841 per 10 grams. Silver futures for December delivery gained ₹931, or 0.48%, to ₹1,96,650 per kilogram.
In the international market, gold futures advanced 0.47% to $4,014.81 per ounce, while silver futures climbed 0.70% to $54.26 per ounce.
Gold rate today in Mumbai, Delhi and Bengaluru
According to the latest city-wise retail rates reported on October 26, 24-carat gold prices varied across the three cities. Mumbai recorded a rate of ₹1,42,250 per 10 grams, while Delhi's rate stood at ₹1,42,010. In Bengaluru, 24-carat gold was priced at ₹1,42,370 per 10 grams.
For 22-carat gold, the rate was ₹1,30,396 per 10 grams in Mumbai, ₹1,30,176 in Delhi and ₹1,30,506 in Bengaluru.
| City | 24K gold (10 grams) | 22K gold (10 grams) |
|---|---|---|
| Mumbai | ₹1,42,250 | ₹1,30,396 |
| Delhi | ₹1,42,010 | ₹1,30,176 |
| Bengaluru | ₹1,42,370 | ₹1,30,506 |
Silver rate today in Mumbai, Delhi and Bengaluru
Silver prices also recovered in the futures market on Monday. Retail rates, however, differed slightly across cities.
In Mumbai, silver was priced at ₹1,96,240 per kilogram, while Delhi recorded a rate of ₹1,95,900 per kilogram. In Bengaluru, silver was quoted at ₹1,96,400 per kilogram.
| City | Silver rate per kilogram |
|---|---|
| Mumbai | ₹1,96,240 |
| Delhi | ₹1,95,900 |
| Bengaluru | ₹1,96,400 |
What is driving gold and silver prices?
The recovery follows a sharp decline in precious metal prices last week. Investors are assessing inflation trends, crude oil prices, the US dollar and expectations surrounding the US Federal Reserve's monetary policy.
Higher crude oil prices can add to inflationary pressures and influence expectations about interest rates, potentially affecting demand for non-interest-bearing assets such as gold and silver. Movements in the rupee against the US dollar also play a role in determining domestic bullion prices.
What should buyers know?
With Dhanteras and Diwali approaching, buyers may be monitoring the latest rates before making purchases. However, the quoted prices are indicative and can change during the day. The final jewellery bill may include making charges and applicable taxes.
Consumers should confirm the latest rates with their jeweller before purchasing gold or silver, as prices may vary depending on the seller, purity and location.
