Gold and silver prices in India remained in focus on Monday, October 12, as investors tracked movements in international bullion markets, crude oil prices and the US dollar. While gold gained slightly in global markets, domestic retail prices showed a decline in some markets, reflecting differences in pricing benchmarks and local market conditions.
According to NDTV Profit, the national reference price of 24-carat gold stood at Rs 1,51,720 per 10 grams, while 22-carat gold was priced at Rs 1,39,077 per 10 grams. Silver of 999 purity was quoted at Rs 2,26,140 per kilogram.
Gold rate today in India
Here are the indicative national reference prices for gold on October 12:
- 24-carat gold: Rs 1,51,720 per 10 grams
- 22-carat gold: Rs 1,39,077 per 10 grams
Prices can differ across cities and jewellery retailers. Making charges, taxes and other applicable fees may also increase the final purchase cost.
Gold rate today in Mumbai, Delhi and other cities
The following are the reported 24-carat gold prices in major Indian cities:
| City | 24K gold (10 grams) | 22K gold (10 grams) |
|---|---|---|
| Mumbai | Rs 1,51,440 | Rs 1,38,820 |
| Delhi | Rs 1,51,180 | Rs 1,38,582 |
| Chennai | Rs 1,51,880 | Rs 1,39,223 |
| Kolkata | Rs 1,51,240 | Rs 1,38,637 |
| Bengaluru | Rs 1,51,560 | Rs 1,38,930 |
| Hyderabad | Rs 1,51,680 | Rs 1,39,040 |
Silver rate today in India
Silver prices also remained elevated on Monday. According to NDTV Profit, 999-purity silver was priced at Rs 2,26,140 per kilogram at the national reference level.
The reported city-wise silver prices were:
| City | Silver price per kg |
|---|---|
| Mumbai | Rs 2,25,730 |
| Delhi | Rs 2,25,340 |
| Chennai | Rs 2,26,390 |
| Kolkata | Rs 2,25,430 |
| Bengaluru | Rs 2,25,910 |
| Hyderabad | Rs 2,26,090 |
Why are gold and silver prices moving today?
International gold prices edged higher on Monday, supported by a weaker US dollar and easing crude oil prices. Spot gold rose 0.1% to $4,198.19 per ounce, while US gold futures for December delivery also advanced 0.1% to $4,221.80 per ounce, according to Reuters.
The decline in oil prices eased some inflation concerns, while a weaker dollar made gold more affordable for buyers using other currencies. However, investors remained cautious ahead of key US inflation data expected later in the week, which could influence expectations for the Federal Reserve's interest-rate policy.
What should buyers keep in mind?
Consumers planning to purchase gold jewellery should compare the latest rates with local jewellers before making a purchase. The final bill may include 3% GST on gold and silver, along with applicable making charges and other fees.
Gold jewellery is generally made using 22-carat gold, while 24-carat gold is commonly used for investment products such as coins and bars. Buyers should check the purity and hallmarking details before purchasing.
