Today Gold Rate: Gold prices surged sharply on Wednesday after the central government increased customs duties on precious metal imports, just days after Prime Minister Narendra Modi urged people to not buy gold. The price of 24-carat gold rose by ₹9,338 to ₹16,285.8 per gram, while 22-carat gold climbed ₹8,553.61 to ₹14,917.793 per gram. Despite the sharp jump, 24-carat gold prices are still down 1.07 per cent over the past week and 0.75 per cent over the last month.
Silver prices also saw a strong rise, increasing by ₹18,532 to ₹2,97,386 per kg.
In Delhi, gold was priced at ₹1,62,858 per 10 grams on Wednesday, up from ₹1,53,520 on May 12 and ₹1,51,871 on May 7. Silver prices in the national capital stood at ₹2,97,386 per kg, compared to ₹2,78,854 yesterday and ₹2,57,150 a week ago.
In Chennai, the rate of gold touched ₹1,64,357.02 per 10 grams, up from ₹1,54,901.68 on Tuesday and ₹1,53,237.84 last week.
Silver prices in the city rose to ₹3,00,062.47 per kg, compared to ₹2,81,363.69 a day earlier and ₹2,59,464.35 on May 7.
Mumbai recorded gold prices at ₹1,62,909.75 per 10 grams, higher than ₹1,53,673.52 on May 12 and ₹1,52,022.87 a week ago.
Silver rates in the financial capital climbed to ₹2,97,563.27 per kg from ₹2,79,132.85 yesterday and ₹2,57,407.15 last week.
In Kolkata, gold prices stood at ₹1,64,189.09 per 10 grams on Wednesday, compared to ₹1,54,748.16 a day earlier and ₹1,53,085.97 on May 7.
Silver prices in the city rose to ₹2,99,765.09 per kg from ₹2,81,084.83 yesterday and ₹2,59,207.2 a week earlier.
The gold August 2026 MCX futures were trading at ₹166620.0 per 10 gm, up by ₹6.01 at the time of publishing.
The silver July 2026 MCX futures were trading at ₹297000.0 per kg, up by ₹6.43 at the time of publishing.
Gold and silver prices are affected by a range of factors, among them the input from major jewelers. Elements such as the global demand for gold, currency variations, interest rates, and government policies all play a role in the prices. Apart from this, international factors such as the state of the global economy and the strength of the US dollar against other currencies also exert an influence on gold rates in the Indian market.