Gold prices today, October 8, 2026: How global production impacts India’s gold rate
Thiruvananthapuram: Gold prices in India remained unchanged on October 8, with 24K, 22K and 18K gold rates holding steady at ₹14,957, ₹13,710 and ₹11,218 per gram, respectively. The rates were the same as those recorded on October 7, indicating no day-on-day movement across the three major purity categories.
| Purity | Price (Per Gram) |
| 24K Gold (99.9% purity) | ₹14,957 |
| 22K Gold (91.6% purity) | ₹13,710 |
| 18K Gold (75% purity) | ₹11,218 |
City-wise gold rate (1 gram)
| Cities | 24 Carat | 22 Carat | 18 Carat |
|---|---|---|---|
| Chennai | ₹14,957 | ₹13,710 | ₹11,265 |
| Mumbai | ₹14,957 | ₹13,710 | ₹11,218 |
| Delhi | ₹14,970 | ₹13,725 | ₹11,233 |
| Kolkata | ₹14,957 | ₹13,710 | ₹11,218 |
| Bangalore | ₹14,957 | ₹13,710 | ₹11,218 |
| Hyderabad | ₹14,957 | ₹13,710 | ₹11,218 |
| Thiruvananthapuram | ₹14,957 | ₹13,710 | ₹11,218 |
City-wise silver rate
| City | (10 grams) | (100 grams) | (1 kg) |
| Chennai | ₹2,450 | ₹24,500 | ₹2,45,000 |
| Mumbai | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Delhi | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Kolkata | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Bangalore | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Hyderabad | ₹2,450 | ₹24,500 | ₹2,45,000 |
| Kerala | ₹2,450 | ₹24,500 | ₹2,45,000 |
Gold production and its impact on prices
Gold prices in India are influenced by several factors, including global production of the precious metal. South Africa was once the world’s largest gold producer, with its mines accounting for a significant share of the gold in circulation globally.
The trend has changed considerably over the years. China is now the world’s largest gold producer, mining substantial quantities of the precious metal. Its production levels therefore have an important bearing on global gold supply and, indirectly, on gold prices in India.
A decline in global gold production could put upward pressure on prices if demand remains strong, while higher production could ease supply constraints. However, gold prices are also driven by other factors, including investment demand, central-bank buying, currency movements, interest rates and international market trends.
Despite increased production, strong demand for gold has helped support prices, preventing higher supply from translating into a significant decline in the metal’s value.