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Gold Price Today: 24K Gold Near ₹1.48 Lakh per 10g; Check Latest Rates

Posted on 13th Oct 2026 12:36 pm by rohit kumar

Gold and silver prices declined in India on October 12, according to the rates cited from the India Bullion and Jewellers Association (IBJA). The price of 10 grams of 24-carat gold fell by ₹1,369 to around ₹1.48 lakh, while silver prices dropped by ₹814 per kilogram to approximately ₹2.20 lakh.

 

The latest decline comes after both precious metals recorded substantial price corrections in September. Gold reportedly fell by ₹8,000 per 10 grams during the month, while silver declined by ₹15,000 per kilogram.

 

The movements are drawing attention from jewellery buyers and investors who are monitoring precious metal prices amid uncertainty in global markets. However, short-term price movements do not necessarily indicate the direction of gold and silver prices over the coming weeks.

 

Gold Rate Today: 24-Carat Gold Falls to ₹1.48 Lakh

 

According to the figures cited from IBJA, 24-carat gold became cheaper by ₹1,369 per 10 grams on October 12, taking the price to approximately ₹1,48,000.

 

Gold prices vary depending on purity, location, taxes and the benchmark used. The IBJA benchmark rate may also differ from the final retail price charged by a jeweller, which can include GST and making charges.

 

Buyers should therefore confirm the latest rate for their city and gold purity before purchasing jewellery or bullion.

 

Silver Rate Today: Price Falls to ₹2.20 Lakh per Kilogram

 

Silver prices also declined on October 12. The price of one kilogram of silver reportedly fell by ₹814 to approximately ₹2.20 lakh.

 

Silver prices can fluctuate in response to investment demand, industrial consumption, currency movements and changes in global commodity markets. Because silver is used in sectors such as electronics, solar technology and manufacturing, its price can respond to industrial demand as well as investment activity.

 

Buyers should compare the latest benchmark price with local dealer quotations before making a purchase.

 

Gold and Silver Prices Fell Sharply in September

 

Gold and silver also experienced a correction during September, according to the figures provided.

 

Gold reportedly declined from ₹1.56 lakh per 10 grams on August 31 to around ₹1.48 lakh by September 30, representing a fall of approximately ₹8,000.

 

Silver reportedly dropped from ₹2.37 lakh per kilogram to ₹2.22 lakh over the same period, a decline of around ₹15,000.

 

These monthly comparisons suggest that both precious metals experienced selling pressure. However, the exact figures should be checked against the same IBJA benchmark and pricing cut-off before publication, as daily and monthly rates may differ by reporting time.

 

Why Are Gold and Silver Prices Falling?

 

Gold and silver prices are influenced by several global and domestic factors. A decline in prices can reflect changes in investor expectations, currency movements, interest-rate outlooks and demand for precious metals.

 

1. US Interest Rates and the Dollar

 

Expectations about US Federal Reserve interest-rate decisions can influence gold prices. When markets anticipate higher interest rates or stronger returns from interest-bearing assets, gold can face pressure because it does not pay interest.

 

Movements in the US dollar also matter because gold is traded internationally in dollars. A stronger dollar can make gold more expensive for buyers using other currencies and weigh on demand.

 

2. Geopolitical Tensions and Safe-Haven Demand

 

Geopolitical uncertainty can increase demand for gold as some investors seek assets perceived as safe havens. However, the effect is not always immediate or consistent. Currency movements, interest-rate expectations and profit-taking can offset safe-haven buying.

 

Silver can also respond to geopolitical developments, but its industrial uses mean that expectations for economic growth and manufacturing demand may influence its performance differently from gold.

 

3. Investor Sentiment and Market Volatility

 

Changes in investment demand, profit-booking and broader market sentiment can cause short-term price swings. A decline may attract buyers looking for lower entry prices, but it does not guarantee that prices will recover immediately.

 

Investors should avoid making decisions based only on a single day's price movement.

 

Will Gold and Silver Prices Fall Further?

 

The direction of gold and silver prices remains uncertain. Further declines are possible if market conditions put pressure on precious metals, while renewed geopolitical uncertainty, a weaker dollar or stronger investment demand could provide support.

 

Gold buyers planning jewellery purchases should compare current prices with their budget and near-term requirements. Investors considering bullion or other gold-linked investments should assess their time horizon, risk tolerance and portfolio allocation rather than relying on short-term price predictions.

 

A price correction can offer a more attractive buying level, but it should not automatically be treated as a signal that prices have reached their lowest point.

 

Two Things to Check Before Buying Gold

 

1. Check the BIS Hallmark and HUID

 

Buy gold jewellery bearing the appropriate Bureau of Indian Standards (BIS) hallmark. Check the purity marking and the six-character alphanumeric Hallmark Unique Identification (HUID) code, where applicable. Buyers can use the official BIS verification facility to check hallmark details.

 

Do not rely only on a shop's verbal assurance about purity.

 

2. Compare the Rate, Weight and Final Bill

 

Before purchasing gold, check the daily rate for the correct purity—24-carat, 22-carat or 18-carat—and confirm the jewellery's net gold weight.

 

Ask for an itemised bill showing the gold value, making charges, applicable taxes and other costs. Comparing quotations from more than one jeweller can help buyers understand the total price they will pay.

 

Gold and Silver Prices: What Buyers Should Know

 

Gold and silver prices declined on October 12, according to the quoted IBJA figures, following reported monthly corrections in September. However, international market trends, currency movements and investor demand can change the price outlook quickly.

 

For jewellery buyers, checking the latest benchmark and retail rates is more useful than relying on yesterday's price. For investors, the key is to consider broader market conditions and personal financial goals rather than assuming that a short-term decline guarantees a future rise.

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