Gold, silver prices on October 16: Check latest rates in Delhi, Mumbai, Kolkata, other cities
Prices in India remain anchored by international spot bullion trends, USD/INR currency dynamics, and anticipatory retail demand ahead of peak festival shopping.
- Oct 16, 2026,
- Updated Oct 16, 2026 9:58 AM IST
Indian gold and silver markets traded slightly up on October 16 across 24-carat, 22-carat, and 18-carat purities. Benchmark gold rates stand at ₹1,47,810 per 10 gm while silver trades at ₹2,11,290 per kg.
On the Multi Commodity Exchange (MCX), gold futures were down by 0.52% at ₹1,48,250 per 10 gm, whereas silver futures were down by 1.00% at around ₹2,12,760 per kg at the time of writing this story.
Higher interest rates remain a headwind for non-yielding gold, with markets also watching global economic risks and rising geopolitical tensions in the Middle East.
DON'T MISS | Gold ETF inflows stopped: Major fund houses slam brakes ahead of festive season buying
In the physical retail market, gold is primarily bought in 24-karat and 22-karat options. While 24-karat represents pure gold, 22-karat remains the preferred choice for crafting ornaments because the mixed alloys deliver greater durability.
Prices in India remain anchored by international spot bullion trends, USD/INR currency dynamics, and anticipatory retail demand ahead of peak festival shopping.
The rates quoted in benchmark tables and store listings reflect base bullion prices. Retail gold purchases in India attract a standard 3% GST on the value of the metal, plus a separate 5% GST on the jewellery making charges. Import duties and local transport surcharges also influence regional price variations across states.
Check the latest gold rates here
| City | 24K Gold (₹ per 10gm) | 22K Gold (₹ per 10gm) |
| Delhi | ₹1,48,000 | ₹1,35,667 |
| Mumbai | ₹1,48,250 | ₹1,35,896 |
| Bengaluru | ₹1,48,370 | ₹1,36,006 |
| Kolkata | ₹1,48,060 | ₹1,35,722 |
| Hyderabad | ₹1,48,490 | ₹1,36,116 |
| Chennai | ₹1,48,690 | ₹1,36,299 |
Check the latest silver rates here
| City | Silver (₹ per 100gm) | Silver (₹ per kg) |
| Delhi | ₹21,313 | ₹2,13,130 |
| Mumbai | ₹21,313 | ₹2,13,130 |
| Bengaluru | ₹21,313 | ₹2,13,130 |
| Kolkata | ₹21,313 | ₹2,13,130 |
| Hyderabad | ₹21,313 | ₹2,13,130 |
| Chennai | ₹21,313 | ₹2,13,130 |
MUST READ | Can adding gold and debt to equities boost long-term returns while reducing portfolio drawdowns?
Gold rates at top jewellers
Leading retail chains kept prices mostly unchanged on October 16, 2026. Major brands including Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,515 per gram across most states. Tanishq listed its 22K gold rate at ₹13,555 per gram. For 24-carat gold, Malabar quoted ₹14,744 per gram, while Tanishq stood at ₹14,787 per gram.
Minor retail rate disparities across brands stem from store-level pricing structures, inventory acquisition costs, and regional logistics, even as global commodity trends determine overall market direction.
| Jeweller | Purity | Rate (₹/gram) |
| Joyalukkas | 22K | 13,515 |
| Malabar Gold & Diamonds | 22K | 13,515 |
| Malabar Gold & Diamonds | 24K | 14,744 |
| Tanishq | 22K | 13,555 |
| Tanishq | 24K* | 14,787 |
*24K Tanishq rate estimated based on the prevailing purity premium over 22K gold.
DO CHECKOUT | Gold, silver prices: Where are precious metals headed? Support, resistance levels
Joyalukkas 22K Gold Rate by State
| State | Rate (₹/gram) |
| Andhra Pradesh | 13,515 |
| Delhi | 13,515 |
| Gujarat | 13,515 |
| Karnataka | 13,515 |
| Kerala | 13,515 |
| Maharashtra | 13,515 |
| Odisha | 13,515 |
| Punjab | 13,515 |
| Tamil Nadu | 13,515 |
Indian gold and silver markets traded slightly up on October 16 across 24-carat, 22-carat, and 18-carat purities. Benchmark gold rates stand at ₹1,47,810 per 10 gm while silver trades at ₹2,11,290 per kg.
On the Multi Commodity Exchange (MCX), gold futures were down by 0.52% at ₹1,48,250 per 10 gm, whereas silver futures were down by 1.00% at around ₹2,12,760 per kg at the time of writing this story.
Higher interest rates remain a headwind for non-yielding gold, with markets also watching global economic risks and rising geopolitical tensions in the Middle East.
DON'T MISS | Gold ETF inflows stopped: Major fund houses slam brakes ahead of festive season buying
In the physical retail market, gold is primarily bought in 24-karat and 22-karat options. While 24-karat represents pure gold, 22-karat remains the preferred choice for crafting ornaments because the mixed alloys deliver greater durability.
Prices in India remain anchored by international spot bullion trends, USD/INR currency dynamics, and anticipatory retail demand ahead of peak festival shopping.
The rates quoted in benchmark tables and store listings reflect base bullion prices. Retail gold purchases in India attract a standard 3% GST on the value of the metal, plus a separate 5% GST on the jewellery making charges. Import duties and local transport surcharges also influence regional price variations across states.
Check the latest gold rates here
| City | 24K Gold (₹ per 10gm) | 22K Gold (₹ per 10gm) |
| Delhi | ₹1,48,000 | ₹1,35,667 |
| Mumbai | ₹1,48,250 | ₹1,35,896 |
| Bengaluru | ₹1,48,370 | ₹1,36,006 |
| Kolkata | ₹1,48,060 | ₹1,35,722 |
| Hyderabad | ₹1,48,490 | ₹1,36,116 |
| Chennai | ₹1,48,690 | ₹1,36,299 |
Check the latest silver rates here
| City | Silver (₹ per 100gm) | Silver (₹ per kg) |
| Delhi | ₹21,313 | ₹2,13,130 |
| Mumbai | ₹21,313 | ₹2,13,130 |
| Bengaluru | ₹21,313 | ₹2,13,130 |
| Kolkata | ₹21,313 | ₹2,13,130 |
| Hyderabad | ₹21,313 | ₹2,13,130 |
| Chennai | ₹21,313 | ₹2,13,130 |
MUST READ | Can adding gold and debt to equities boost long-term returns while reducing portfolio drawdowns?
Gold rates at top jewellers
Leading retail chains kept prices mostly unchanged on October 16, 2026. Major brands including Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,515 per gram across most states. Tanishq listed its 22K gold rate at ₹13,555 per gram. For 24-carat gold, Malabar quoted ₹14,744 per gram, while Tanishq stood at ₹14,787 per gram.
Minor retail rate disparities across brands stem from store-level pricing structures, inventory acquisition costs, and regional logistics, even as global commodity trends determine overall market direction.
| Jeweller | Purity | Rate (₹/gram) |
| Joyalukkas | 22K | 13,515 |
| Malabar Gold & Diamonds | 22K | 13,515 |
| Malabar Gold & Diamonds | 24K | 14,744 |
| Tanishq | 22K | 13,555 |
| Tanishq | 24K* | 14,787 |
*24K Tanishq rate estimated based on the prevailing purity premium over 22K gold.
DO CHECKOUT | Gold, silver prices: Where are precious metals headed? Support, resistance levels
Joyalukkas 22K Gold Rate by State
| State | Rate (₹/gram) |
| Andhra Pradesh | 13,515 |
| Delhi | 13,515 |
| Gujarat | 13,515 |
| Karnataka | 13,515 |
| Kerala | 13,515 |
| Maharashtra | 13,515 |
| Odisha | 13,515 |
| Punjab | 13,515 |
| Tamil Nadu | 13,515 |