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On the occasion of Rakshabandhan (Rakshabandhan 2026), a relief news has emerged for those purchasing from the bullion market. On Friday, August 28, softening of prices of both gold and silver was seen from the futures market to the retail market. This decline in the rates of precious metals has occurred due to global cues and profit booking in the domestic market.

MCX and international market situation

On Multi Commodity Exchange (MCX Gold Price), the price of 10 grams of gold fell to Rs 1,58,028. At the same time, the price of silver fell to Rs 2,39,633 per kg. According to bullion websites, the price of 10 grams of gold in the spot market is also trading at around Rs 1,58,410.

Talking about the international market COMEX, pressure on gold and silver was clearly seen there too. On Comex, gold fell 0.62 per cent to $ 4,634.90 an ounce, while silver fell 0.89 per cent to $ 68.815 an ounce.

Gold became cheaper by more than ₹ 4,300 on IBJA

According to Indian Bullion and Jewelers Association (IBJA) data, 24 carat gold of 999 purity has fallen to Rs 15,839 per gram (i.e. ₹ 1,58,390 per 10 grams). It is noteworthy that on August 24, the same price was Rs 1,62,603 ​​per 10 grams. According to this, within just four days there has been a huge relief of about Rs 4,377 per 10 grams in pure gold. Apart from this, the price of 22 carat gold was Rs 15,459 per gram and the rate of 20 carat gold was Rs 14,096 per gram.

Today's prices in major cities

There is a slight difference in rates due to taxes and local charges in different cities of the country:

• Delhi: 24 carat gold is at ₹16,312 per gram, 22 carat at ₹14,954 per gram and 18 carat at ₹12,238 per gram. Silver is at ₹2,59,900 per kg.
• Mumbai, Indore, Lucknow, Agra: 24 carat gold is being sold at ₹16,297 per gram and 22 carat gold is being sold at ₹14,939 per gram. In these cities the price of silver was recorded at ₹2,59,900 per kg.
• Chennai: 24 carat gold is at ₹16,297 per gram, while silver is priced at ₹2,64,900 per kg.

Will prices increase again?

Market experts believe that this decline during festivals can be a good buying opportunity. From a long-term perspective, commodity experts are seeing an upward trend in precious metals. Well-known economic analysts predict that gold and silver rates may rise again in the coming months due to increased purchasing and demand by central banks amid global uncertainties.

While buying jewellery, keep in mind that IBJA and MCX rates are benchmark rates. When purchasing jewelery from shops, GST and making charges are added separately to these rates, so please confirm the final rate with your local bullion dealer before making the final payment.