Gold Rate Today: 24K Gold at ₹1,47,463 per 10g on 8 October 2026, Down ₹512

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? 

The 999-purity gold benchmark declined by ₹512 per 10 grams between the October 7 and October 8 morning fixings. 

The percentage change was: 

₹-512 ÷ ₹1,47,975 × 100 = approximately -0.35%

Other purity categories also recorded declines. Gold 995 decreased by ₹510 per 10 grams, while gold 916 declined by ₹470. 

Silver 999 fell by ₹3,539 per kilogram, equivalent to a decline of approximately 1.60%. 

These movements represent changes in benchmark bullion rates rather than final retail jewellery prices. 

What Is Driving Gold Prices? 

Gold prices are influenced by several interconnected domestic and international factors. 

International bullion prices affect the underlying value of gold traded in India. Changes in the US dollar, government bond yields and expectations surrounding monetary policy can influence the international gold market. 

The USD/INR exchange rate is another important consideration because India imports substantial quantities of gold. Changes in the rupee's value against the dollar can affect domestic bullion prices independently of international price movements. 

Geopolitical developments and investment demand can also influence gold-market activity. 

However, the October 8 IBJA AM decline cannot be attributed conclusively to any single factor from the benchmark data alone. 

What Do Lower Gold Prices Mean for Indian Markets? 

Jewellery Companies 

Lower bullion prices can reduce the replacement cost of gold inventory for jewellery manufacturers and retailers. 

The effect on individual businesses depends on their inventory valuation methods, procurement arrangements, hedging policies and ability to adjust retail prices. 

Businesses holding inventory purchased at higher prices may experience different accounting effects from companies purchasing fresh inventory at the revised benchmark. 

Consumer Demand 

A lower gold benchmark reduces the underlying metal cost of purchasing a fixed quantity of gold, assuming other pricing components remain unchanged. 

For example, the benchmark value of 10 grams of 999-purity gold declined by ₹512 between the two morning fixings. 

Actual jewellery bills also depend on purity, GST, making charges and retailer margins. 

Gold Imports 

India's gold imports are influenced by international bullion prices, exchange rates and import volumes. 

A decline in the international dollar-denominated price of gold can reduce the value of imports for an unchanged quantity, although currency movements and changes in demand can offset that effect. 

Gold-Loan Businesses 

Gold-loan lenders use eligible gold collateral to determine lending limits under applicable valuation and loan-to-value requirements. 

Changes in gold prices can affect the assessed value of pledged jewellery. The actual effect depends on the lender's valuation methodology, regulatory requirements and outstanding loan balances. 

Broader Financial Markets 

Gold is relevant to financial markets through inflation expectations, currency movements, investment allocations and household wealth. 

Changes in bullion prices can affect the value of gold-backed investments, but a single day's price movement does not establish the future direction of equities or other assets.