Gold rate today: 24K near ₹1.47–1.49 lakh, silver around ₹2.3 lakh/kg

Indian gold prices are steady to slightly higher this morning. 24-carat (99.9% pure) gold is quoted at about ₹1,47,440–₹1,48,612 per 10 grams across major cities, and 22-carat (91.6% pure, the usual jewellery grade) at about ₹1,35,150–₹1,36,128, depending on the source and city. Silver is around ₹2.30 lakh per kg.

Why are global and Indian prices moving differently? Overnight, US gold futures fell 0.42% to about $4,143 an ounce because US bond yields above 5% make interest-paying assets more attractive than gold, which pays nothing. But Indian prices are set in rupees and include import duty and local demand, so a weak rupee (about 94.92 per dollar) keeps them high. Silver rose about 2% globally to $58.10 on industrial demand.

Worked example: at ₹1,35,500 per 10 g for 22K, a 10-gram chain costs about ₹1,35,500 for the metal, plus 3% GST (about ₹4,065) and the jeweller's making charge, often 8–15% (₹10,800–20,300). So the bill can be ₹1.5–1.6 lakh. The official benchmark from IBJA (India Bullion and Jewellers Association) was ₹1,45,944 for 999 gold on 19 October; IBJA did not publish on Dussehra and its first rates for today come around midday.

Key takeaway: shop rates differ by a few hundred rupees between cities and websites, so compare the per-gram rate and the making charge, not just the headline price.