Gold Price Today, October 17, 2026: Gold prices in India have declined further, offering some relief to jewellery buyers during the festive season. On Saturday, October 17, the reported price of 24-carat gold in Delhi stood at ₹1,47,580 per 10 grams, while Mumbai recorded ₹1,47,430 for the same quantity. The domestic bullion market has witnessed a significant correction this week, with gold falling by approximately ₹4,500, or 3%.

Silver prices have also moved lower, registering a weekly decline of ₹13,500 per kilogram. The downward movement in precious metals comes amid changes in international market conditions and domestic demand.

With festive purchases and wedding-related jewellery shopping attracting attention, buyers are closely monitoring gold and silver prices to identify suitable purchasing opportunities.

Gold Rate Today: Latest 22K and 24K Prices in Major Indian Cities

Gold prices differ slightly across Indian cities because of local market conditions, transportation expenses and other charges. According to the rates reported for October 17, Delhi, Jaipur, Lucknow and Chandigarh have identical gold prices.

Meanwhile, Mumbai, Chennai, Kolkata and Hyderabad are reporting marginally lower rates.

Here is the city-wise gold price list for October 17, 2026.

Note: These are indicative prices from the supplied October 17 market report, not independently verified live quotations. Jewellery purchases may attract GST, making charges and other applicable costs.

Gold Prices in Delhi, Mumbai, Chennai and Kolkata

In the national capital, 24-carat gold is quoted at ₹1,47,580 per 10 grams, while 22-carat gold stands at ₹1,35,290.

Mumbai, India's major bullion trading centre, has a reported 24-carat gold price of ₹1,47,430 per 10 grams. The corresponding 22-carat rate is ₹1,35,140.

Chennai and Kolkata are showing the same indicative prices as Mumbai, with 24-carat gold at ₹1,47,430 and 22-carat gold at ₹1,35,140 per 10 grams.

In Jaipur, a major jewellery manufacturing and trading hub, 24-carat gold is listed at ₹1,47,580, while 22-carat gold costs ₹1,35,290 per 10 grams.

Gold Becomes ₹4,500 Cheaper in One Week

The domestic spot gold market has experienced a notable decline over the past week.

According to the supplied market update, gold prices dropped by approximately ₹4,500 per 10 grams, representing a fall of nearly 3%.

The correction has attracted attention because precious metals often see increased buying interest during India's festive and wedding seasons.

However, lower prices do not necessarily mean that gold will continue to decline. Bullion prices can change quickly in response to international economic developments, currency fluctuations and investor demand.

Consumers planning to purchase jewellery may benefit from comparing prices across different sellers rather than relying only on the quoted gold rate.

Silver Price Today: Metal Falls ₹13,500 During the Week

Silver has also witnessed substantial selling pressure.

Reported silver price — October 17, 2026

₹2,29,900/kg

₹13,500 lower this week (approximately 6%)

The reported domestic silver price stood at ₹2,29,900 per kilogram on Saturday morning.

In international markets, spot silver was quoted at $57.05 per troy ounce.

Silver prices are influenced not only by investment demand but also by industrial consumption, particularly in electronics, solar equipment and other manufacturing activities.

As a result, silver may experience sharper price movements than gold during periods of economic uncertainty.

International Gold Prices Also Move Lower

The decline in Indian gold prices has coincided with weakness in international bullion markets.

According to the report, international spot gold was trading around $4,165.12 per troy ounce, reflecting a weekly decline of approximately 0.7%.

Global gold prices are affected by several important factors, including US interest rate expectations, movements in the dollar, government bond yields and geopolitical developments.

A stronger US dollar can make dollar-denominated gold more expensive for buyers using other currencies, potentially affecting demand.

Similarly, expectations of higher interest rates can influence investor preferences because physical gold does not generate regular interest income.

Nevertheless, gold continues to be viewed by many investors as a potential store of value during periods of economic instability.

India's Gold Imports Decline Sharply in September 2026

Apart from falling domestic prices, India's precious metal import figures have also attracted attention.

The supplied report states that gold imports declined by 81.27% in September 2026, falling to approximately $1.8 billion.

This marked the second consecutive month of declining gold imports.

Silver imports also reportedly contracted for a second straight month, dropping 49.11% to approximately $665 million.

The report attributes part of the decline to higher customs duties on precious metals.

It states that import duties on gold and silver were increased from 6% to 15%, effective May 13, 2026. This reported policy change would need confirmation from the relevant official customs notification before being treated as a verified tax rule.

Gold and Silver Imports During April–September 2026

The reported decline in precious metal imports was not limited to September.

During the April–September 2026 period, India's gold imports reportedly decreased by 27.32% to $19.27 billion.

Silver imports over the same period were reported at $2.4 billion, representing a decline of 25.17%.

Lower import volumes may reflect several factors, including elevated domestic prices, changes in jewellery demand, inventory adjustments and trade-related costs.

However, import data alone cannot establish that consumer demand has fallen by the same proportion.

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

The recent correction may appear attractive to people planning to purchase gold for personal use, weddings or long-term savings.

However, buyers should consider their financial needs and the total purchase cost before making a decision.

For jewellery purchases, 22-carat gold is commonly preferred because it is generally more suitable for crafting ornaments than softer 24-carat gold.

Meanwhile, 24-carat gold is typically associated with higher-purity investment products, including certain coins and bars.

Buyers should also check BIS hallmarking details, purity specifications, making charges and the final invoice amount.

Those purchasing gold primarily for investment purposes should assess price volatility, liquidity and the risks associated with different investment options.

Trying to predict the exact lowest market price can be difficult, even for experienced investors.

Gold and Silver Price Outlook

The latest reported figures for October 17, 2026, indicate a significant weekly correction in both gold and silver prices.

Gold has fallen by around 3% in the domestic spot market, while silver has recorded a steeper decline of approximately 6%.

International bullion trends, rupee-dollar movements, import costs and domestic demand will remain important factors influencing future prices.

For consumers considering festive jewellery purchases, the recent decline may offer an opportunity to review prices and compare options.

Before purchasing, confirm the latest local bullion quotation and calculate the full cost, including applicable taxes and making charges, because actual jewellery prices can differ from published benchmark rates.