Key Points
- 24K gold falls ₹287 to ₹99,670 per 10g on IBJA’s benchmark rates; still close to recent peak after hitting an all‑time high of ₹1,01,406 on Aug 8, 2025.
- Silver dips ₹188 to ₹1,13,313 per kg; remains below the late‑July peak of ₹1,15,850 as domestic bullion cools with global cues and rupee moves.
- Metro snapshot: Delhi ₹1,01,550 (24K) and ₹93,100 (22K); Mumbai/Kolkata/Chennai ₹1,01,400 (24K) and ₹92,950 (22K), tracking IBJA and city dealer dashboards.
- Futures check: MCX silver hovering near ₹1,13,200–1,13,700/kg intraday; bullion breadth soft after last week’s surge on global news flow and tariff headlines.
- Drivers: International prices, USD/INR, customs duty and local demand; gold remains a traditional hedge in India with strong cultural and inflation‑era appeal.
New Delhi: According to the India Bullion and Jewellers Association’s latest snapshot for Tuesday, 24‑carat gold eased by ₹287 to ₹99,670 per 10 grams versus the prior read of ₹99,957, reflecting consolidation after last week’s historic run to ₹1,01,406 on August 8, 2025, as per IBJA’s daily PM rate matrix and reports citing the benchmark print, which exclude GST and making charges. Silver also edged lower by ₹188 to ₹1,13,313 per kilogram, mirroring softer intraday moves seen on the futures curve, even as the broader trend remains elevated following the late‑July/early‑August spike in precious metals pricing in domestic markets.
Metro City Prices
Retail dashboards tracking city quotes showed premium metros aligned near the ₹1.01 lakh mark for 24‑carat bullion, with Delhi around ₹1,01,550 per 10 grams (24K) and ₹93,100 (22K), while Mumbai, Kolkata, and Chennai clustered at approximately ₹1,01,400 (24K) and ₹92,950 (22K), consistent with national averages and IBJA benchmarks used by jewellers for reference pricing before taxes and making charges. These metro snapshots tend to oscillate around IBJA’s twice‑daily fix, with slight variances due to local premiums, logistics, and inventory positions among trade participants.
Record Highs And Recent Peaks
Gold’s latest all‑time high print of ₹1,01,406 on August 8 appears in IBJA’s physical market report and allied bullion trackers, marking a milestone that coincided with a sharp rally on the MCX and global bourses before moderating this week as policy headlines clarified and traders refocused on macro data. Silver’s momentum similarly tested the ₹1.15 lakh zone on domestic screens in recent sessions, with MCX near‑month contracts oscillating around ₹1,13,000–₹1,15,000 per kilogram, indicating elevated but choppy trade as positioning adjusts.
What’s Moving Prices
Daily gold pricing in India is shaped by a combination of international spot/futures moves, the rupee‑dollar exchange rate, import duties and GST structure, and domestic jewellery/investment demand, with IBJA’s reference rates providing the baseline for trade invoices nationwide. Given gold’s dual status as a cultural staple and inflation hedge, price elasticity can vary seasonally around festivals and weddings, but structural demand tends to persist, supporting the long‑term thesis even through short‑term volatility triggered by global macro events.
Quick City Table (24K, per 10g)
- Delhi: ₹1,01,550; 22K: ₹93,100
- Mumbai: ₹1,01,400; 22K: ₹92,950
- Kolkata: ₹1,01,400; 22K: ₹92,950
- Chennai: ₹1,01,400; 22K: ₹92,950
Note: IBJA benchmark rates exclude GST; retail ticket prices vary by jeweller, locality, making charges, and real‑time market moves. Always verify the final invoice rate and hallmarking details at the point of purchase.
