Gold, silver prices on October 7: Yellow metal nears ₹1.50 lakh, silver eyes ₹2.27 lakh. Check latest rates here

Indian gold and silver markets remained slightly elevated on October 7 across 24-carat, 22-carat, and 18-carat purities. Gold rates neared the ₹1.50 lakh mark whereas silver is eyeing the ₹2.27 lakh mark. Benchmark gold rates stand at ₹1,49,780 per 10 gm, whereas silver rates stand at ₹2,26,410 per kg. On the Multi Commodity Exchange (MCX), gold futures dropped by 0.31% to ₹1,49,702 per 10 gm, whereas silver futures were down by 0.55% at around ₹2,26,125 per kg at the time of writing this story.

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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

Check the latest silver rates here

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Gold rates at top jewellers

Leading retail chains kept prices unchanged on October 7, 2026. Major brands including Joyalukkas and Malabar Gold & Diamonds quoted 22K gold at ₹13,770 per gram across most states. Tanishq listed its 22K gold rate at ₹13,815 per gram. For 24-carat gold, Malabar quoted ₹15,022 per gram, while Tanishq stood at ₹15,071 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.

*24K Tanishq rate estimated based on the prevailing purity premium over 22K gold.

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Joyalukkas 22K Gold Rate by State