Gold and Silver Price Today: Gold prices witnessed a slight decline on Wednesday, October 28, 2026, offering an important update for people planning to purchase jewellery, coins or gold bars ahead of Diwali. According to the reported market figures, gold futures on the Multi Commodity Exchange (MCX) slipped marginally, while retail gold prices continued to differ across major Indian cities.

Gold remains one of the most popular purchases during the festive season in India. Many families buy gold jewellery, coins and other precious metal items as part of traditional celebrations.

However, with prices remaining at elevated levels, checking the latest market rates before making a purchase has become increasingly important.

Here is a detailed look at the reported gold prices for October 28, including city-wise rates, market movements and important tips for buyers.

Gold Price Today: Latest Rates on October 28, 2026

According to the figures mentioned in the report, MCX gold futures were quoted at ₹1,44,100 per 10 grams, compared with the previous closing level of ₹1,44,138.

This represents a decline of ₹38, or approximately 0.03%.

Other reported gold price indicators were as follows:

These figures represent different market references and should not be treated as interchangeable retail prices.

Futures contracts, wholesale bullion quotations and jewellery shop rates may vary because of differences in trading time, contract specifications, taxes and other charges.

The international price mentioned above also differs from another New York quotation cited later in the source report, suggesting that the figures may refer to different trading sessions.

Gold Rate Today: City-Wise Prices for 24K, 22K and 18K Gold

Gold prices are not necessarily identical across India.

Local market conditions, transportation expenses, dealer margins and other factors can influence the amount customers pay.

The following table presents the city-wise gold rates provided in the October 28 report.

All prices are for 10 grams.

Note: These are the prices supplied in the original report, not independently verified live quotations. Actual rates may differ depending on the jeweller, location and time of purchase.

Gold Prices in Delhi, Mumbai, Kolkata and Chennai

Among the cities covered in the report, Delhi's 24-carat gold rate stands at ₹1,43,440 per 10 grams.

The price of 22-carat gold in the national capital is listed at ₹1,31,500, while 18-carat gold costs ₹1,07,620.

In Mumbai, the reported price of 24-carat gold is ₹1,43,290 per 10 grams.

The corresponding rates for 22-carat and 18-carat gold are ₹1,31,350 and ₹1,07,570.

Kolkata and Chennai have the same listed rates as Mumbai in the supplied data.

Meanwhile, Patna's 24-carat gold price stands at ₹1,43,340 per 10 grams.

For buyers in Lucknow, Meerut, Ayodhya and Kanpur, the reported 24-carat rate is ₹1,43,440 per 10 grams.

Consumers should confirm the final jewellery price with their local seller before making payment.

Why Are Gold Prices Falling?

Gold prices are influenced by a combination of domestic and international market developments.

According to the source report, weakness in overseas bullion markets and a stronger US dollar contributed to selling pressure.

Gold is internationally traded in US dollars. When the dollar strengthens, gold can become more expensive for buyers using other currencies, potentially affecting demand.

However, the relationship is not always straightforward.

Interest rate expectations, inflation trends, geopolitical developments and investor sentiment also influence gold prices.

The report states that gold with 99.9% purity in Delhi's bullion market declined by ₹500 per 10 grams.

The price reportedly fell from ₹1,46,300 to ₹1,45,800 per 10 grams, including taxes.

Separately, an MCX December gold futures contract was reported at ₹1,42,259 per 10 grams after a decline of ₹814, or 0.57%.

These figures appear to refer to different trading periods or market quotations and should not be interpreted as a single simultaneous price movement.

International Gold Market Update

Global gold prices play an important role in determining domestic bullion trends.

The report mentions a New York gold quotation of $3,998.69 per ounce, reflecting a decline of approximately 0.45%.

Another international reference in the same report places gold at $4,076.30 per ounce.

Because these quotations differ, readers should verify the relevant market session and timestamp before comparing them.

Movements in global gold prices can influence Indian rates, but the rupee-dollar exchange rate and domestic market conditions also matter.

This means gold prices in India may not always move by the same percentage as international prices.

Gold Purity Explained: Difference Between 24K, 22K and 18K

Before purchasing gold, understanding its purity is essential.

24-carat gold: This is the highest commonly marketed purity category, generally associated with approximately 99.9% pure gold. It is widely used for investment products such as coins and bars.

22-carat gold: This contains approximately 91.6% gold, with the remaining portion consisting of other metals. It is commonly used for traditional jewellery.

18-carat gold: This contains 75% gold and is frequently used in jewellery that requires greater strength or includes intricate designs and gemstones.

The price difference between these categories mainly reflects their gold content, although jewellery charges can also vary significantly.

Silver Price Today: What Should Buyers Know?

The original report mentions that silver prices remained stable but does not provide a specific verified silver rate for October 28, 2026.

Therefore, it is not possible to confirm a city-wise silver price or the exact daily change from the supplied figures alone.

Silver prices, like gold prices, depend on international market conditions, industrial demand, currency movements and domestic trading activity.

Anyone planning to buy silver coins, jewellery or bars should check the latest price per gram or kilogram with a reliable bullion dealer.

Important Tips Before Buying Gold During Diwali

With festive jewellery purchases approaching, customers should pay attention to more than just the advertised gold rate.

First, verify the purity and applicable BIS hallmarking requirements for the jewellery you are buying.

Where applicable, check the Hallmark Unique Identification (HUID) details through the official BIS Care application.

Second, compare making charges across jewellery stores. These charges can substantially increase the final purchase price.

Third, request a proper invoice mentioning the gold purity, weight, rate, making charges and applicable taxes.

Buyers should also distinguish between the weight of the gold and the weight of any gemstones included in a jewellery item.

Finally, avoid making purchases solely because of short-term price fluctuations. Gold prices can rise or fall unexpectedly.

Final Words

Gold prices showed weakness in the market figures reported for October 28, 2026.

MCX gold futures were quoted at ₹1,44,100 per 10 grams, while the supplied city-wise retail reference placed 24-carat gold at ₹1,43,440 in Delhi and ₹1,43,290 in Mumbai, Kolkata and Chennai.

For people planning to buy gold during Diwali, comparing prices, checking purity and understanding additional charges are important steps.

Before purchasing gold or silver, always confirm the latest market quotation and final payable amount with a trusted jeweller.

Disclaimer: The market figures in this article are based on the supplied October 28 report and have not been independently verified as live prices. Gold and silver rates fluctuate, and actual purchase prices may vary. This article is for general information and does not constitute investment advice.