Silver Hits Upper Range While Gold Stays High Across Indian Metros
On September 19, 2026, the Indian precious‑metal market displayed a dual narrative: gold remained firmly in the high‑price corridor, while silver nudged toward the top of its recent range. The national benchmark for 24‑carat gold was set at roughly Rs 15,443 per gram, and 22‑carat gold at about Rs 14,156 per gram. When expressed per 10 grams, the figures become Rs 1,54,430 for 24K and Rs 1,41,560 for 22K.
In the capital, Delhi quoted 22K at Rs 1,41,700 per 10 g and 24K at Rs 1,54,570. Mumbai’s numbers were Rs 1,41,560 for 22K and Rs 1,54,430 for 24K. The southern and eastern metros—Chennai, Kolkata, Bengaluru and Hyderabad—reported nearly identical rates, hovering around Rs 1,41,550 for 22K and Rs 1,54,420 for 24K. Ahmedabad and Bhopal posted Rs 1,41,600 and Rs 1,54,470 respectively, while the northern and western cities of Jaipur, Lucknow, Srinagar, Jodhpur, Noida, Ghaziabad and Gurugram matched Delhi’s pricing.
Silver, measured at 999 purity, traded between Rs 250 and Rs 255 per gram. This translates to a 10‑gram price of Rs 2,500‑Rs 2,550 and a 100‑gram price of Rs 25,000‑Rs 25,500. A kilogram of silver was valued at Rs 2.50‑2.55 lakh, with the higher end observed in markets such as Chennai, Hyderabad and Kerala.
According to commodity expert Ajay Kedia, the recent easing of oil‑supply worries and tentative diplomatic moves toward ending the Iran conflict have softened crude oil prices, thereby reducing inflationary pressure and the typical safe‑haven demand for gold. Goldman Sachs kept its 2026 fair‑value projection for gold at $4,900 per ounce but warned of possible two‑way volatility, emphasizing that central‑bank buying could still underpin prices.
The price dynamics for gold and silver in India are shaped by global metal prices, the US dollar’s trajectory, interest‑rate expectations, geopolitical developments and domestic consumption trends. Local differentials arise from state‑level taxes, transportation costs, jeweller premiums and the 3 % GST levied on gold. Consumers are advised to verify the latest rates with their jeweller before finalising any purchase.