Gold prices moved lower across several Indian cities at the beginning of the week on Monday, September 28, 2026. Buyers checking rates for jewellery or investment purposes are seeing cheaper prices compared with the previous week, while weakness is also visible in the international bullion market.

In Delhi, 24-carat gold was quoted at ₹1,52,820 per 10 grams on Monday morning, while 22-carat gold stood at ₹1,40,090 per 10 grams.

Mumbai and Kolkata reported slightly lower rates, with 24-carat gold at ₹1,52,670 per 10 grams and 22-carat gold at ₹1,39,940.

According to the figures cited in the source, 24-carat gold has fallen by as much as ₹3,160 per 10 grams in some cities over the past week, while 22-carat gold has declined by up to ₹2,900.

Internationally, spot gold was quoted at around $4,282.98 per ounce, with the global price down approximately 2.1% over the previous week.

Gold Rates Across Major Indian Cities on September 28

Here are the 22-carat and 24-carat gold prices cited for major cities:

Gold prices can vary by location and seller. Buyers should therefore verify the final rate, applicable taxes and making charges before completing a jewellery purchase.

Gold Price in Delhi Today

Delhi is among the cities where gold is trading at slightly higher levels compared with Mumbai and Kolkata in the rates cited above.

On September 28, the price of 24-carat gold in the national capital stood at ₹1,52,820 per 10 grams.

For 22-carat gold, commonly used for jewellery, the quoted price was ₹1,40,090 per 10 grams.

These are indicative gold rates, and the amount actually paid at a jewellery store can be higher after GST, making charges and other applicable costs are included.

Gold Rates in Mumbai and Kolkata

Mumbai and Kolkata reported identical gold prices in the source.

In both cities, 24-carat gold was priced at ₹1,52,670 per 10 grams, while 22-carat gold was available at ₹1,39,940.

That puts 24-carat gold ₹150 per 10 grams below the cited Delhi price.

Pune and Bengaluru were also reported at ₹1,52,670 for 24-carat gold and ₹1,39,940 for 22-carat gold.

What Is the Gold Price in Chennai?

The detailed city table in the source lists Chennai's 24-carat gold price at ₹1,52,670 per 10 grams and its 22-carat rate at ₹1,39,940.

Gold buyers should always check the live local rate before making a purchase because bullion prices can move during the day and the final jewellery bill includes costs beyond the underlying gold value.

Gold Becomes Cheaper Over the Past Week

The latest decline is not limited to Monday's session.

According to the source data, 24-carat gold has become cheaper by as much as ₹3,160 per 10 grams across different Indian cities over the past week.

The weekly fall in 22-carat gold has reached approximately ₹2,900 per 10 grams in some locations.

The international market has also weakened. Spot gold was quoted at approximately $4,282.98 per ounce on Monday morning, representing a weekly decline of around 2.1%.

Movements in international bullion prices are closely watched in India because domestic gold prices are influenced by global prices as well as currency movements and other local factors.

What Determines Gold Prices in India?

Several factors can influence the amount Indian consumers ultimately pay for gold.

International bullion prices are an important component because India depends significantly on imports to meet domestic gold demand.

The rupee-dollar exchange rate can also influence domestic prices. Gold is traded internationally in US dollars, meaning a weaker rupee can make imported gold more expensive even when international bullion prices are stable.

Interest-rate expectations, bond yields, central-bank policies, geopolitical uncertainty and investor demand for safe-haven assets can also affect global gold prices.

Domestic demand, import-related costs, taxes and local market conditions can further influence prices in India.

This combination explains why domestic gold does not always move by exactly the same percentage as international bullion.

Could Gold Eventually Reach $10,000 an Ounce?

The source also cites a highly bullish long-term view from Chris Wood, Global Head of Equity Strategy at Jefferies, who has suggested that gold could eventually rise as high as $10,000 per ounce.

Investors should treat this figure as an analyst's outlook rather than a guaranteed price target.

Gold's future direction will depend on numerous factors, including global monetary policy, inflation, interest rates, currency movements, geopolitical developments and investment demand.

Short-term corrections can also occur even during a longer-term upward trend.

Silver Prices Also Decline

Gold isn't the only precious metal trading lower.

Silver continued to show weakness on September 28, with the domestic price cited at approximately ₹2,44,900 per kilogram.

According to the source, silver has declined by around ₹10,000 per kilogram over the past week.

In the international market, spot silver was quoted at approximately $64.26 per ounce.

Silver prices can be influenced by many of the same macroeconomic factors that move gold, but industrial demand also plays an important role because silver is extensively used in manufacturing and technology applications.

What Should Gold Buyers Watch Now?

For consumers planning to purchase gold, the recent decline means rates are lower than they were a week earlier in the figures cited by the source.

However, predicting whether prices will fall further or rebound from current levels is difficult.

International gold prices, movements in the US dollar and Indian rupee, global interest-rate expectations and geopolitical developments can all influence the next move.

Jewellery buyers should also remember that the quoted gold rate is not necessarily the final amount payable. GST, making charges and other costs can increase the final bill considerably.

Investors should similarly avoid making decisions based solely on short-term price movements or aggressive long-term forecasts.

As of the morning of September 28, 2026, 24-carat gold was quoted between roughly ₹1,52,670 and ₹1,52,820 per 10 grams across the major cities listed above, while 22-carat gold ranged from around ₹1,39,940 to ₹1,40,090.

Disclaimer: Gold and silver prices can fluctuate based on domestic and international market conditions. The rates and market figures above are based on the information provided in the source and may change during the trading day. Analyst price targets are opinions, not guaranteed outcomes. Buyers and investors should verify current rates and consider professional financial advice before making investment decisions.