Gold and Silver Price Today, October 8, 2026: Planning to purchase gold jewellery or silver ahead of the festive season? Recent reports of softer precious metal prices may offer buyers an opportunity to review their shopping plans. Gold and silver rates have reportedly declined in parts of the bullion market, attracting attention from consumers preparing for weddings, religious celebrations and other special occasions.

According to the rates quoted in the latest market report, 24-carat fine gold is priced at approximately ₹14,798 per gram, while the listed price for 22-carat gold stands at ₹14,443 per gram. Silver prices have also shown signs of weakness in the futures market.

However, customers should remember that gold prices are not uniform across India. Rates can differ depending on purity, location, local market conditions and the type of purchase. Jewellery buyers must also account for making charges, GST and other applicable costs.

Here is a detailed look at the reported gold and silver prices for October 8, 2026, along with important information for buyers.

Gold Rate Today: Check Prices for 24K, 22K, 20K and 18K Gold

The source report, citing IBJA gold jewellery retail selling rates, lists 999-purity fine gold at ₹1,47,980 per 10 grams.

Prices vary significantly across different purity categories, making it important for customers to understand the difference before purchasing ornaments or investment products.

The reported rates are as follows:

These figures represent the rates quoted in the supplied report and have not been independently verified against a live bullion feed.

Generally, 24-carat gold is preferred for investment-oriented products such as coins and bars, while 22-carat and 18-carat gold are commonly used in jewellery manufacturing.

Customers should also note that the quoted gold value does not necessarily represent the final amount payable at a jewellery store.

Delhi Gold Price Today: 24-Carat Gold Quoted at ₹1,49,320

According to the reported city-wise prices, gold in New Delhi is trading at a slightly different rate from the broader bullion reference figures.

The quoted price for 24-carat gold in the national capital stands at ₹1,49,320 per 10 grams.

Meanwhile, 22-carat gold is listed at ₹1,36,877 per 10 grams.

Silver of 999 purity is quoted at ₹2,25,560 per kilogram.

Customers purchasing ornaments in Delhi should confirm the latest selling price with their jeweller, as retail rates can vary between establishments.

Mumbai Gold and Silver Rates: Check the Latest Reported Prices

Mumbai, one of India's major bullion trading centres, has also recorded notable precious metal prices in the supplied market report.

The quoted rate for 24-carat gold stands at ₹1,49,580 per 10 grams, while 22-carat gold is listed at ₹1,37,115 per 10 grams.

Silver is priced at approximately ₹2,25,940 per kilogram.

The difference between Delhi and Mumbai highlights why buyers should avoid relying exclusively on national-level gold price headlines.

Local demand, dealer pricing and other market factors may influence the amount customers pay.

Gold and Silver Prices in Major Indian Cities on October 8, 2026

The following table provides the city-wise rates reported for six major Indian markets.

Note: These are reported indicative prices, not independently confirmed live quotations. Gold prices are expressed per 10 grams, while silver prices are per kilogram.

Among the listed cities, Chennai has the highest quoted 24-carat gold price at ₹1,49,960 per 10 grams. Delhi has the lowest quoted 24-carat rate among these six markets.

Actual retail prices may differ from the figures shown above.

Why Are Gold and Silver Prices Changing?

Precious metal prices respond to several domestic and international economic developments.

One major factor is the movement of gold prices in global markets. When international bullion prices change, Indian gold rates often respond accordingly.

Currency fluctuations also influence domestic prices because India imports a substantial portion of its gold requirements.

A weaker rupee against the US dollar can make imported gold more expensive, while a stronger rupee may reduce some of that pressure.

Interest rate expectations, inflation trends, geopolitical uncertainty and investment demand can also influence gold and silver markets.

Domestic jewellery demand is another important consideration, particularly during India's wedding and festive seasons.

However, the supplied report does not establish the exact cause or size of the latest price decline.

Buying Gold Before the Festive Season? Check These Additional Charges

Many customers focus on the advertised gold rate while overlooking the additional expenses involved in jewellery purchases.

Making charges can increase the final cost substantially, particularly for intricate ornaments or designer jewellery.

GST and other applicable charges must also be considered when calculating the total bill.

For example, the price of a gold necklace depends not only on the gold content but also on its weight, purity, craftsmanship and the jeweller's pricing structure.

Customers should request an itemised invoice showing the gold value, making charges, taxes and any additional fees.

It is also advisable to check for appropriate BIS hallmarking and verify the Hallmark Unique Identification (HUID) number where applicable.

Should You Buy Gold Now or Wait for Another Price Drop?

A decline in gold prices can attract buyers, but it does not guarantee that rates will continue falling or immediately recover.

Those purchasing jewellery for an upcoming wedding or family occasion may prefer to compare prices across several trusted sellers rather than attempting to predict the lowest market level.

People buying gold primarily for investment purposes should also consider their financial goals, investment horizon and ability to manage price fluctuations.

Gold can experience short-term volatility, and purchasing solely because of a reported daily decline may not be appropriate for every buyer.

Comparing the complete purchase cost is generally more useful than looking only at the quoted bullion rate.

Final Takeaway

The reported gold and silver prices for October 8, 2026, suggest some easing in precious metal markets, potentially drawing the attention of festive-season shoppers.

According to the supplied figures, 24-carat fine gold is quoted at ₹1,47,980 per 10 grams in the reference rate list, while city-specific quotations range from ₹1,49,320 in Delhi to ₹1,49,960 in Chennai.

Silver prices in the six listed cities range from ₹2,25,560 to ₹2,26,600 per kilogram.

Before purchasing gold or silver, buyers should verify current rates, confirm purity and compare making charges and taxes. A lower market quotation does not automatically mean that every jewellery purchase will become cheaper.

Disclaimer: The prices mentioned in this article are based on the supplied October 8, 2026 market report and may change without notice. The reported decline has not been independently verified against previous closing rates. Readers should check the latest official bullion quotations and local jeweller prices before making a purchase.