Gold Rate Today: 24K Gold Benchmark for 12 October 2026

Gold prices are per 10 grams; silver prices are per kilogram. All figures represent IBJA AM rates, excluding GST and making charges. 

How Much Did Gold Fall Today? 

A reliable day-on-day comparison requires the 12 October IBJA AM figure to be subtracted from the 9 October IBJA AM benchmark on a like-for-like basis. 

As the 12 October benchmark is not independently verified, the absolute and percentage changes have intentionally been left uncalculated. 

Using a retail jewellery rate, an international spot quote or a previous PM fixing would create an inconsistent comparison. 

What Is Driving Gold Prices? 

Domestic gold pricing reflects international bullion prices, the rupee's exchange rate against the US dollar and local market conditions. 

Changes in US Treasury yields and expectations surrounding monetary policy can influence the opportunity cost of holding non-interest-bearing assets such as gold. 

Currency movements are also relevant because internationally traded gold is generally priced in dollars. For a fixed international bullion price, a weaker rupee increases the rupee-denominated cost before other charges. 

Geopolitical developments can influence the demand for bullion, although the precise contribution of each factor cannot be established solely from a day's price change. 

What Do Gold Prices Mean for Indian Markets? 

Jewellery Companies 

Changes in the cost of gold can alter the value of inventory held by jewellery manufacturers and retailers. 

Higher raw-material costs may also increase working-capital requirements for a fixed quantity of gold inventory. Actual company-level effects depend on procurement, inventory accounting, hedging and pricing arrangements. 

Consumer Demand 

The benchmark price directly affects the metal value of a fixed quantity of gold. For example, a ₹1,000 increase per 10 grams would add ₹1,000 to the benchmark metal cost of a 10-gram purchase before tax and making charges. 

Gold Imports 

India imports substantial quantities of gold. Changes in dollar-denominated bullion prices and USD/INR affect the rupee value of those imports when shipment volumes are unchanged. 

Gold-Loan Businesses 

Gold prices affect the market value of pledged collateral. 

The amount a lender can advance also depends on purity assessments, applicable loan-to-value limits and internal lending policies. 

Broader Markets 

Gold is monitored alongside currencies, interest rates and other commodities. However, a one-day movement in gold cannot independently establish the direction of Indian equity prices.