Gold prices strengthened across India during the week, with 24-carat gold becoming costlier by as much as ₹1,260 per 10 grams in some cities. The price of 22-carat gold increased by up to ₹1,150 over the same period. Silver also recorded a sharp weekly gain of ₹10,000 per kilogram.

On the morning of September 20, 2026, the price of 24-carat gold in Delhi stood at ₹1,55,990 per 10 grams, while 22-carat gold was available for ₹1,43,000. Mumbai reported slightly lower rates, with 24-carat gold priced at ₹1,55,840 and 22-carat gold at ₹1,42,850 per 10 grams.

Gold also advanced in the international market. Spot gold was trading at around $4,390.11 per ounce, reflecting a weekly increase of approximately 1%.

Gold Rates in Major Indian Cities

Gold prices vary across cities because of local demand, transportation expenses, taxes and dealer-related charges. Here are the reported rates for September 20:

Among the cities listed, Delhi, Jaipur, Lucknow and Chandigarh recorded the highest quoted price for 24-carat gold at ₹1,55,990 per 10 grams. The 22-carat rate in these cities was ₹1,43,000.

Mumbai, Chennai, Kolkata and Hyderabad reported identical prices. In all four cities, 24-carat gold was quoted at ₹1,55,840 per 10 grams, while 22-carat gold stood at ₹1,42,850.

Buyers should note that these figures are indicative market rates. The final cost of jewellery may be higher after adding making charges, applicable taxes and other retailer-specific expenses.

What Is Supporting Gold Prices?

Gold is generally influenced by movements in the US dollar, bond yields, interest-rate expectations, inflation and geopolitical uncertainty. When investors become concerned about economic or financial-market risks, demand for gold as a perceived safe-haven asset may increase.

A weaker US dollar can also support bullion prices because gold is internationally priced in dollars. When the dollar loses strength, the metal becomes relatively less expensive for buyers using other currencies, which can encourage demand.

Domestic gold prices are additionally affected by the rupee-dollar exchange rate. Since India imports a large part of its gold requirements, a weaker rupee can make imports more expensive even if international bullion prices remain unchanged.

Chris Wood Sees the Possibility of Gold Reaching $10,000

Jefferies Global Head of Equity Strategy Chris Wood has reportedly said that gold could eventually climb to $10,000 per ounce. Speaking to CNBC-TV18 during the Jefferies India Forum 2026, Wood described that level as possible.

At the reported international price of $4,390.11 per ounce, a move to $10,000 would represent an increase of roughly 128%, or close to 130%. However, this is an analyst’s long-term projection and not a confirmed price target or guaranteed outcome.

Wood reportedly linked the bullish possibility to efforts to control US bond yields. Such intervention could place pressure on the dollar, potentially creating a more supportive environment for gold.

The forecast should still be treated cautiously. Bullion prices can move in either direction depending on changes in monetary policy, inflation, economic growth, currency movements and global investment demand.

Silver Gains ₹10,000 in One Week

Silver followed gold’s upward weekly trend. Its domestic price increased by ₹10,000 to reach ₹2,55,000 per kilogram on the morning of September 20.

In the international market, spot silver was quoted at approximately $66.70 per ounce. The metal is influenced by both investment demand and industrial consumption because it is used in sectors such as electronics, renewable energy and manufacturing.

Despite the latest weekly recovery, domestic silver prices remain well below the record level reported earlier in the year. Silver reportedly touched ₹4 lakh per kilogram in January 2026. Compared with that peak, the September 20 price of ₹2.55 lakh is lower by ₹1.45 lakh, representing a decline of approximately 36.25%.

What Buyers Should Check Before Purchasing Gold

Consumers planning to buy gold jewellery should verify more than just the daily market rate. The purity of the product, hallmarking details, making charges and the jeweller’s exchange or buyback policy can significantly affect the transaction.

A purchase bill should clearly mention the net weight, purity, applicable tax and additional charges. Buyers can also check the Hallmark Unique Identification details on eligible hallmarked jewellery through official verification channels.

Gold and silver have risen over the past week, but short-term price movements remain unpredictable. Investors should avoid treating forecasts as assured returns and consider their financial goals and risk tolerance before making a decision.