Gold Rate Today, October 28: Gold Prices Rise Ahead of Karwa Chauth, Check 22K and 24K Rates in Your City

Gold Price Today, October 28, 2026: Gold prices have moved higher in several Indian cities on Wednesday, bringing fresh attention to the precious metal market ahead of Karwa Chauth. The latest reported rates show an increase in both 22-carat and 24-carat gold during morning trading. Meanwhile, silver continues to face selling pressure after a sharp decline in the previous session.

In the national capital, 24-carat gold is priced at ₹1,43,450 per 10 grams, while 22-carat gold costs ₹1,31,510 per 10 grams. Similar price levels have been reported in Jaipur, Lucknow and Chandigarh.

The latest movement comes after gold declined by ₹500 in Delhi's bullion market on Tuesday. Silver also witnessed a significant correction of ₹4,000 in the previous session.

Market participants are closely monitoring international developments, particularly the US Federal Reserve's monetary policy announcement, which could influence the direction of precious metal prices.

Gold Price Today: Latest 22K and 24K Rates Across India

Gold prices vary slightly between cities because of local demand, transportation expenses, dealer margins and other market-related factors.

According to the October 28 morning price report, Delhi, Jaipur, Lucknow and Chandigarh have relatively higher gold rates than several other major cities.

Here is the city-wise gold price comparison:

Note: Prices are based on the supplied October 28 morning report. Actual jewellery bills may differ due to GST, making charges and retailer pricing.

Gold Prices in Delhi, Mumbai, Chennai and Kolkata

Delhi's gold market has reported 24-carat gold at ₹1,43,450 per 10 grams, while the price of 22-carat gold stands at ₹1,31,510.

Mumbai has slightly lower rates, with 24-carat gold available at ₹1,43,300 and 22-carat gold at ₹1,31,360 per 10 grams.

Chennai and Kolkata have reported the same rates as Mumbai. Bengaluru and Pune were also quoted at ₹1,43,300 for 24-carat gold and ₹1,31,360 for 22-carat gold in the morning update.

For buyers planning to purchase jewellery, these differences may appear small. However, they can become more noticeable when purchasing larger quantities of gold.

Silver Price Today: Rates Remain Under Pressure

Unlike gold, silver continues to show weakness in the domestic market.

According to the reported figures, silver is priced at ₹2,19,900 per kilogram on the morning of October 28.

The precious metal had declined by ₹4,000 in Delhi's bullion market during the previous trading session.

Silver has experienced considerable volatility this year, making price movements particularly important for investors, jewellers and industrial buyers.

The supplied report also refers to a January peak of ₹4 lakh per kilogram, although that historical figure should be independently verified before being treated as an established record.

In international markets, spot silver is quoted at approximately $54.20 per ounce.

Silver prices are influenced not only by investment demand but also by industrial consumption, including demand from electronics, solar energy and manufacturing sectors.

International Gold Price: Global Markets Await US Federal Reserve Decision

International market developments remain an important factor behind changes in Indian gold prices.

The supplied market update places spot gold at approximately $4,055.14 per ounce.

Investors are watching the US Federal Reserve's October 28 monetary policy announcement for indications about future interest rates and the outlook for the American economy.

Changes in US interest rates can influence gold prices because gold does not provide regular interest income.

When interest rates rise, interest-bearing investments may become more attractive, potentially reducing demand for gold. Conversely, expectations of lower rates can sometimes support precious metal prices.

The strength of the US dollar also matters because international gold is generally traded in dollars.

A stronger dollar can make gold more expensive for buyers using other currencies, while fluctuations in the rupee-dollar exchange rate can influence domestic prices in India.

Why Are Gold Prices Changing Frequently?

Several domestic and international factors contribute to movements in gold prices.

Global economic uncertainty often encourages investors to consider gold as a potential safe-haven asset. However, gold prices can still decline sharply, and returns are never guaranteed.

Currency movements, central bank policies, international investment demand and geopolitical developments can also affect market sentiment.

In India, jewellery demand during festivals and the wedding season may influence retail buying activity.

Karwa Chauth is traditionally associated with jewellery purchases and gifting, making gold prices particularly relevant for shoppers around the festival period.

However, seasonal demand alone does not determine the direction of gold prices.

Planning to Buy Gold? Check These Important Details

Consumers purchasing gold jewellery should pay attention to more than the quoted price per gram.

The purity of the metal is one of the most important considerations. While 24-carat gold is generally preferred for investment products because of its high purity, 22-carat gold is commonly used in jewellery.

Buyers should also check the BIS hallmark and verify the Hallmark Unique Identification (HUID) number where applicable.

Jewellery making charges, GST and other applicable costs can increase the final amount payable.

It is advisable to compare prices from multiple reputable jewellers and request a detailed invoice showing gold weight, purity, making charges and taxes.

Gold and Silver Price Outlook

The near-term direction of gold and silver prices remains uncertain as investors assess international monetary policy developments and currency movements.

Gold has recovered in several Indian cities in the October 28 morning report, while silver remains under pressure following the previous day's decline.

Any major change in the US Federal Reserve's policy outlook, global investor sentiment or the rupee-dollar exchange rate could influence subsequent trading sessions.

For October 28, 2026, the reported price of 24-carat gold in Delhi is ₹1,43,450 per 10 grams, while 22-carat gold stands at ₹1,31,510. Silver is quoted at ₹2,19,900 per kilogram.

Buyers and investors should confirm live market rates before making transactions, as precious metal prices can change throughout the trading day.