Gold and silver prices remained elevated in India on August 28, with safe-haven demand supporting precious metals amid geopolitical uncertainty. Chennai recorded the highest 24-carat gold and silver rates among the major cities listed.
Gold and silver prices remained elevated in India on August 28 amid strong safe-haven demand linked to uncertainty in the Middle East, with Chennai recording the highest 24-carat gold and silver rates among the cities listed.
MCX Gold October futures rose around 0.7% to Rs 1,60,751 per 10 grams, while MCX Silver September contracts gained 1.04% to Rs 2,42,124 per kg around 9:05 am.
Also Read
According to Indian Bullion Association data, retail 24-carat gold was priced at Rs 1,59,400 per 10 grams, while 22-carat gold stood at Rs 1,46,117 per 10 grams. Silver 999 fine was priced at Rs 2,40,200 per kg.
City-wise gold and silver rates
| City | 24K gold (10g) | 22K gold (10g) | Silver 999 (1kg) |
|---|---|---|---|
| Delhi | Rs 1,60,250 | Rs 1,46,896 | Rs 2,42,140 |
| Mumbai | Rs 1,60,530 | Rs 1,47,153 | Rs 2,42,550 |
| Kolkata | Rs 1,60,320 | Rs 1,46,960 | Rs 2,42,230 |
| Chennai | Rs 1,60,990 | Rs 1,47,574 | Rs 2,43,280 |
| Bengaluru | Rs 1,60,660 | Rs 1,47,272 | Rs 2,42,740 |
| Hyderabad | Rs 1,60,780 | Rs 1,47,382 | Rs 2,42,950 |
Chennai records highest gold rate
Among the six cities listed, Chennai recorded the highest 24-carat gold price at Rs 1,60,990 per 10 grams. Delhi had the lowest at Rs 1,60,250.
For 22-carat gold, Chennai again had the highest rate at Rs 1,47,574 per 10 grams, while Delhi recorded Rs 1,46,896.
Silver prices across cities
Chennai also recorded the highest silver 999 rate at Rs 2,43,280 per kg.
Hyderabad followed at Rs 2,42,950, while Bengaluru's rate stood at Rs 2,42,740. Delhi had the lowest silver rate among the listed cities at Rs 2,42,140 per kg.
Why are gold and silver prices high?
Precious metals have continued to receive support from geopolitical uncertainty and safe-haven demand, with investors turning towards assets such as gold during periods of heightened uncertainty.
Gold has also recorded a substantial rise over the past year, while silver has climbed sharply from its levels in 2023-24.
Gold and silver rates can vary at jewellery stores
The quoted rates should not be treated as the final amount a buyer will pay at a jewellery store.
The final price can be higher because of making charges, taxes and GST, depending on the jeweller, product and transaction.
Buyers should therefore check the prevailing local rate and the complete price breakdown before purchasing gold or silver.
(Disclaimer: Gold and silver prices can vary by city, jeweller and market conditions. The rates mentioned are indicative and may not include GST, making charges, levies or other applicable costs. Buyers should verify the latest price with their jeweller before making a purchase.)
Published: 28 Aug 2026, 09:21 am IST
ABOUT THE AUTHOR
Related Topics
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.