Gold and Silver Price Today: 24K Near ₹1.47 Lakh, Silver Half Its Peak — Is This the Pre-Dhanteras Dip Buyers Waited For?
Gold and Silver Price Today: 24K Near ₹1.47 Lakh, Silver Half Its Peak — Is This the Pre-Dhanteras Dip Buyers Waited For?
Indicative rates on 17 October 2026 put 24-carat gold at about ₹14,744 a gram and 22-carat at ₹13,515. Gold has slipped for most of the week and sits about 18% below January’s record; silver has fallen far more.
If you have been holding off on a gold purchase for Dhanteras, this week has been kinder to you than January was. On 11 October, 24-carat gold in Delhi was quoted at ₹1,51,570 per 10 grams. By Thursday it was ₹1,47,590, a fall of almost ₹4,000 in five days, and Saturday’s indicative rates are close to that level. Silver has fallen harder: PTI reported a ₹6,000 drop in a single day on Thursday.
The bigger picture matters more than the week. In late January, gold in India touched a record near ₹1.66 lakh per 10 grams with taxes, and silver went above ₹3.7 lakh a kilogram. Today’s prices are well below both. This guide gives you today’s rates, explains why different websites show different numbers, works through what a piece of jewellery will actually cost, and sets out what to watch before Dhanteras on 6 November.
Quick Summary
Gold today is about ₹14,744 a gram for 24K and ₹13,515 for 22K, roughly 18% below January’s record; silver is about ₹215 to ₹230 a gram, around 43% below its peak. Prices fell this week as hotter US inflation raised the prospect of higher interest rates and the rupee strengthened. Rates on Saturday reflect Friday’s global close, since international markets are shut. Your jeweller’s bill will be higher than the headline rate once making charges and 3% GST are added.
What We Know
- Indicative 24K gold is ₹14,744 a gram and 22K ₹13,515 on 17 October, per DNA India citing Goodreturns.
- Delhi 24K gold was ₹1,47,590 per 10 g on 15 and 16 October, down from ₹1,51,570 on 11 October.
- Gold fell for four straight sessions to Thursday in Delhi, PTI reported.
- COMEX gold futures ended Friday at $4,177.50 an ounce and silver at $57.43.
- Dhanteras falls on Friday 6 November and Diwali on Sunday 8 November 2026.
What Is Still Unclear
- Whether the US Federal Reserve raises rates in October, the biggest near-term driver.
- How strong festive jewellery demand will be at current prices.
- Whether the rupee’s five-day rally continues, which would keep Indian prices lower.
- Why silver quotes vary so widely today, from about ₹2.15 lakh to ₹2.30 lakh a kg.
Today’s Rates, Carat by Carat
Most people need one of three numbers: 24-carat for coins and bars, 22-carat for jewellery, and 18-carat for diamond and lightweight designs. The difference between them is purity, and the prices follow almost exactly: 22K contains 91.6% gold, so it costs about 91.7% of the 24K rate.
City rates: almost the same everywhere
DNA India’s city table shows 24K at ₹14,744 a gram in Mumbai, Kolkata and Chennai, and ₹14,759 in Delhi; 22K at ₹13,515 in the first three and ₹13,530 in Delhi. The ₹15-a-gram Delhi premium is typical: it reflects local transport costs, levies and jewellers’ association pricing, not a different global price. Kerala and Tamil Nadu jewellers often post their own association rates each morning, so check locally if you are buying in the south.
Why Your Phone Shows Different Gold Prices
Search “gold rate today” and you will see several numbers that do not match. That is not an error. Each source measures something slightly different, at a different time of day, with or without taxes.
| Source | 24K gold, 10 g | Silver, 1 kg | Taxes included? | Timing |
|---|---|---|---|---|
| DNA India, via Goodreturns | ₹1,47,440 | ₹2,30,000 | No | 17 Oct, 7:05 am |
| Goodreturns, Delhi | ₹1,47,590 | n/a | No, excludes GST and TCS | 16 Oct |
| AllIndiaBullion | ₹1,48,760 | ₹2,16,462 | Not stated | 16 Oct |
| PTI Delhi bullion report | ₹1,49,000 | ₹2,15,000 | Yes, all taxes | 15 Oct close |
| Your jeweller | Rate plus making | Rate plus making | 3% GST added | At billing |
For gold, the spread is about 1%, mostly explained by taxes and timing. For silver, the gap is wider: DNA India’s ₹2.30 lakh quote is well above PTI’s ₹2.15 lakh and AllIndiaBullion’s ₹2.16 lakh. Silver moved sharply this week, and some daily quotes update slowly, so treat the higher figure with caution and check a live quote before buying.
A Week of Slipping Prices, in Ten Days
Goodreturns’ daily Delhi rates show the shape of the past ten days: a climb to a peak on 10 and 11 October, then four straight declines into midweek, and a flat close to the week.
What pushed prices down
Three forces worked together. First, US inflation: the September consumer price index rose 3.7%, above the 3.6% expected, CNBC-TV18 noted, which raised the prospect of higher US interest rates. Gold pays no interest, so higher rates make it less attractive to hold. Second, US bond yields rose with that inflation news. Third, the rupee strengthened for five straight sessions to ₹95.05 against the dollar, which lowers the rupee price of imported gold even when the dollar price is steady.
Against that, geopolitical tension in West Asia and a sharp selloff in stocks, including the Nasdaq’s 2.14% fall on Friday, kept some safe-haven buying alive. That is why gold drifted lower rather than collapsing. Silver, which depends more on industrial demand, took the bigger hit.
Why the rupee matters as much as the dollar price
Indian gold prices are, in effect, the international dollar price converted into rupees, plus import duty and local costs. That means the exchange rate moves Indian prices almost one for one. If the rupee strengthens by 1% against the dollar and the dollar price of gold does not change, the rupee price of gold falls by roughly 1%. This week’s five-day rupee rally to ₹95.05, reported by PTI, explains part of why Indian rates slipped even on days when international gold was flat. The reverse is also true: a sudden weakening of the rupee can push Indian gold higher even if global prices stall.
The gold-to-silver ratio, at about 73 to 1 using Kitco’s Friday prices, tells you how many ounces of silver buy one ounce of gold. Traders watch it as a rough gauge of relative value: a high ratio means silver is cheap relative to gold, a low one the reverse. It is a comparison, not a signal on its own, but it helps explain why some investors are looking at silver again after its steep fall, while others see that fall as evidence of how much riskier silver is to hold.
How Far Below the Record Are We?
January 2026 was extraordinary. Spot gold hit a record of $5,110.24 an ounce on 26 January, and silver peaked at $117.73, ETV Bharat reported. In India, gold reached a record ₹1.66 lakh per 10 grams with taxes on 27 January, and silver ₹3.7 lakh a kilogram. AllIndiaBullion’s data puts the year’s 24K high at ₹1,80,986 on 30 January and silver’s at ₹3,82,002 on 29 January.
Two things stand out. Indian gold has fallen slightly less than international gold because the rupee weakened over the year before its recent rally. And silver has given back roughly half its January surge, a reminder that silver is far more volatile than gold. Anyone who bought silver near the January peak is sitting on a large loss.
Even after the fall, gold is not cheap by longer standards. AllIndiaBullion’s figures show 24K starting 2026 at ₹1,36,943 per 10 grams, so today’s level is still about 8.6% higher for the year. “Lower than January” and “a bargain” are not the same thing.
What a Gold Necklace Actually Costs Today
The headline rate is the starting point, not your bill. Jewellery adds making charges, which vary widely by design and shop, and 3% GST on the total. Coins and bars from banks or jewellers carry smaller premiums but still attract GST.
| Item | Calculation | Amount | Share of bill |
|---|---|---|---|
| Gold value | 10 g × ₹13,515 | ₹1,35,150 | 86.7% |
| Making charge | 12% of gold value, illustrative | ₹16,218 | 10.4% |
| Subtotal | Gold plus making | ₹1,51,368 | 97.1% |
| GST | 3% of subtotal | ₹4,541 | 2.9% |
| Total bill | Before any discount | ₹1,55,909 | 100% |
Making charges are where most of the negotiation happens. Festive offers usually discount making charges rather than the gold rate itself, so compare the making charge percentage across shops, not just the advertised gold price. And always ask for a BIS hallmark with a six-digit HUID code, which confirms purity and is mandatory for most gold jewellery sold in India.
The Road to Dhanteras
- 26 to 30 JanGold record $5,110; India high near ₹1.66 to 1.81 lakh
- 14 OctUS CPI 3.7%, above forecast
- 15 OctDelhi gold falls 4th day; silver down ₹6,000
- 16 OctCOMEX gold $4,177.50, up 0.18%
- 17 Oct24K ₹14,744 a gram; 22K ₹13,515
- Late OctFed decision; rate-hike odds key for gold
- 6 NovDhanteras, peak gold-buying day
- 8 NovDiwali
Levels traders are watching
Analysts quoted by CNBC-TV18 see $4,280 an ounce as the upside level to watch for gold, with support around $4,055; gold recently bounced from about $4,080. For silver, support is seen around $55 to $56, with a possible move toward $58.50 if short-sellers cover. These are technical markers, not forecasts, and the same analysts stress that inflation data, Fed signals and geopolitics will set the direction.
Should You Buy Now or Wait?
Nobody can reliably time gold over a few weeks, and this article does not try to. What you can do is buy in a way that limits regret.
- Decide the purpose first. Jewellery for a wedding has a date; investment gold does not. If the date is fixed, buy in parts over the next three weeks rather than all on one day.
- Split large purchases. Buying a third now, a third in late October and a third before Dhanteras averages out short-term swings of 2% to 3%.
- For investment, consider non-jewellery forms. Gold ETFs and gold mutual funds avoid making charges; physical coins carry smaller premiums than jewellery.
- Treat silver with more caution. It has fallen about 43% from its Indian peak and can move 5% in a day; size any purchase accordingly.
- Check the live rate on the day. Saturday quotes reflect Friday’s global close; compare with your jeweller’s board rate before paying.
- Purity confirmed: 22K is 91.6%, 18K is 75%
- BIS hallmark with 6-digit HUID checked
- Making charge written as a %, compared across 2 or 3 shops
- 3% GST shown separately on the bill
- Buyback terms asked for in writing
- Weight checked on the shop’s scale, to 0.01 g
- Payment above ₹2 lakh made by traceable method
- Live rate checked on the day of purchase
Frequently Asked Questions
What is the gold rate today, 17 October 2026?
Indicative rates put 24-carat gold at about ₹14,744 a gram (₹1,47,440 per 10 g) and 22-carat at ₹13,515 a gram (₹1,35,150 per 10 g), excluding GST and making charges. Delhi rates are about ₹15 a gram higher.
What is the silver rate today in India?
Quotes range from about ₹2.15 lakh to ₹2.30 lakh per kilogram, or ₹215 to ₹230 a gram, depending on source and whether taxes are included. PTI reported ₹2.15 lakh per kg in Delhi after Thursday’s fall.
Why did gold prices fall this week?
Hotter-than-expected US inflation of 3.7% raised the prospect of higher interest rates, US bond yields rose, and the rupee strengthened to about ₹95 per dollar. All three tend to push Indian gold prices lower.
How much lower is gold than its record?
International gold, at about $4,168 an ounce, is roughly 18% below its record of $5,110 set on 26 January 2026. Indian 24K gold is about 18% below its 2026 high, by AllIndiaBullion’s data.
What is the difference between 24K and 22K gold?
24K is 99.9% pure and used for coins and bars. 22K is 91.6% pure, mixed with other metals for strength, and used for most jewellery. 22K costs about 91.7% of the 24K rate.
How is the final price of gold jewellery calculated?
Gold value (weight × rate for the purity) plus making charges, plus 3% GST on the total. For 10 g of 22K at today’s rate with a 12% making charge, the bill is about ₹1,55,909.
When is Dhanteras 2026?
Dhanteras falls on Friday, 6 November 2026, two days before Diwali on Sunday, 8 November. It is traditionally the busiest gold-buying day of the year in India.
Will gold prices go up before Dhanteras?
No one can say reliably. The key drivers are the US Federal Reserve’s next decision, US inflation data, the rupee and geopolitical tension. Analysts watch $4,055 as support and $4,280 as resistance for international gold.
The Short Version
Gold today is about ₹14,744 a gram for 24K and ₹13,515 for 22K, after a week of mostly falling prices; silver is about ₹215 to ₹230 a gram. Hotter US inflation, rising yields and a stronger rupee pushed prices down. Gold is about 18% below January’s record and silver about 43% to 51% below its peak, though gold is still up for the year. Your jewellery bill will be about 15% above the headline rate after making charges and 3% GST. With Dhanteras on 6 November, buying in stages limits the risk of picking the wrong day.
