Gold and silver futures were trading in the red on the Multi Commodity Exchange (MCX) on Friday, with gold extending its decline for the fourth straight session. MCX gold futures for October delivery fell ₹856, or 0.54 per cent, to ₹1,58,140 per 10 grams, while silver futures declined ₹896, or 0.37 per cent, to ₹2,39,755 per kg.
The September gold contract on MCX has an expiry date of September 4, 2026, while the September silver contract is also set to expire on September 4.
Raksha Bandhan 2026
Tanishq gold rates today
According to Tanishq’s rate history, the 22-karat gold rate stood at ₹14,805 per gram, or ₹1,48,050 per 10 grams, on August 28. The rate was unchanged from the previous day.
The 24-karat gold rate was ₹16,151 per gram, or ₹1,61,510 per 10 grams, also unchanged from August 27.
IBJA gold, silver rates on August 28
The India Bullion and Jewellers Association’s (IBJA) Physical Market Report dated August 28 showed the PM rate for 999-purity gold at ₹1,58,386 per 10 grams, while 916-purity gold was quoted at ₹1,45,082 per 10 grams. Silver of 999 purity stood at ₹2,39,500 per kg. The rates are exclusive of GST.
Gold rates today in major Indian cities
According to Goodreturns, gold prices vary slightly across major Indian cities. As of August 28, 2026, 24K gold is priced at ₹16,297 per gram in Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad and Kerala, while Delhi has the highest rate among the listed cities at ₹16,312 per gram.
For 22K gold, the rate stands at ₹14,939 per gram in Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad and Kerala, while Delhi’s rate is ₹14,954 per gram.
Why do gold rates differ?
Gold prices can vary depending on whether the rate refers to MCX futures, IBJA benchmark prices or retail jeweller rates. City-wise prices may also differ because of local taxes, transportation costs and jeweller pricing. Jewellery purchases can additionally attract GST and making charges.
Why are gold prices falling?
Why are gold prices falling?
Gold futures extended their decline for the fourth straight session on Friday, with investors remaining cautious ahead of US Federal Reserve Chair Kevin Warsh’s speech at the Jackson Hole Symposium.
In international markets, December Comex gold futures fell nearly 1 per cent to USD 4,635.51 per ounce in New York.
“Gold prices inched lower, as investors remained cautious ahead of US Federal Reserve Chair Kevin Warsh’s speech at Jackson Hole Symposium, while balancing concerns over persistent inflation, elevated bond yields and ongoing geopolitical tensions,” said Manav Modi, Commodities Analyst at Motilal Oswal Financial Services.
Renewed geopolitical tensions also added to market caution, with the US signalling no immediate return to negotiations with Iran and stepping up economic pressure through fresh sanctions.
Leave a comment