Gold Rate Today (28 October 2026): 24K, 22K, 18K Gold Prices In Chennai, Mumbai, Cities Jump Rs 14,000; BUY?

Gold rates today in India climbed for the third consecutive time. On October 28, 24-carat gold surged the highest by Rs 6,600, while 22-carat and 18-carat gold prices climbed by Rs 6,000 and Rs 3,900. The biggest sentiment driver is the upcoming US Federal Reserve's policy scheduled later on Wednesday. The market is predicting a status quo from Fed despite elevated inflationary pressure and the energy crisis. However, if the Fed gives a surprise rate hike today, it could impact precious metals heavily as they are non-yielding assets.

Gold Rate Today (28 October 2026), Gold Price in India

On Wednesday, 24-carat gold price surged by Rs 6,600 to Rs 14,39,500 per 100 grams and gained by Rs 660 in 10 grams to Rs 1,43,950. Meanwhile, the 22-carat gold price rallied by Rs 6,000 to Rs 13,19,500 per 100 grams and is higher by Rs 600 to Rs 1,31,950 per 10 grams. Furthermore, 18-carat gold price gained by Rs 3,900 in 100 grams to Rs 10,79,600 and up by Rs 390 in 10 grams to Rs 1,07,960.

Gold Quantity	24K Gold	22K Gold	18K Gold
1 gram	₹14,395 (+₹66)	₹13,195 (+₹60)	₹10,796 (+₹39)
8 grams	₹1,15,160 (+₹528)	₹1,05,560 (+₹480)	₹86,368 (+₹312)
10 grams	₹1,43,950 (+₹660)	₹1,31,950 (+₹600)	₹1,07,960 (+₹390)
100 grams	₹14,39,500 (+₹6,600)	₹13,19,500 (+₹6,000)	₹10,79,600 (+₹3,900)

Gold Rate Performance This Week

The 10-gram gold price surged by Rs 660 on October 28th, after gaining by Rs 540 on October 27th and up by Rs 170 on October 26th. This is the third consecutive surge for gold prices in India as market focus shifts towards the Diwali festival, which will impact gold demand. The immediate sentiment driver for gold is right now US Federal Reserve who is expected to keep interest rates unchanged on October 28, 2026.

The 100-gram gold price climbed by Rs 6,600 on October 28th after recording gains of Rs 5,400 on October 27th and up by Rs 1,700 on October 26th.

24-carat gold prices are up by Rs 13,700 in 100 grams and Rs 1,370 in 10 grams this week so far. The 22-carat gold rates soared by Rs 12,500 in 100 grams and Rs 1,250 in 10 grams.

"Gold and silver futures remain volatile in India as investors await the US Federal Reserve's policy decision on Wednesday. A recovery in international gold prices has offered some support, but uncertainty around inflation and the interest-rate outlook continues to limit buying conviction. The next move will depend on the Fed's guidance, the dollar and US Treasury yields," said Vikram Subburaj, CEO, Giottus.com.

He added that on the MCX, December gold futures closed at Rs 1,44,100 per 10 grams on October 27, marginally below the previous close of Rs 1,44,138. The contract traded between Rs 1,42,100 and Rs 1,44,265. December silver futures ended at Rs 1,96,511 per kg, down 0.10% from the previous close of Rs 1,96,717. Silver's trading range was Rs 1,91,516 to Rs 1,97,388.

Internationally, Reuters reported that spot gold reached $4,055.14 an ounce on October 27, while US December gold futures settled 0.9% higher at $4,074.60. Softer oil prices eased some inflation concerns, although markets remain cautious ahead of the Fed decision and US PCE inflation data due October 29.

Gold Rates In Major Cities

In cities like Chennai, Mumbai, Hyderabad, Kerala, Kolkata, Pune and Bangalore, 22-carat gold is available at Rs 13,195 per 1 gram, while 24-carat and 18-carat gold prices stood at Rs 14,395 and Rs 10,796 respectively. In these cities, the 10 grams gold rates would be at Rs 1,43,950 in 24-carat, at Rs 1,31,950 in 22-carat and at Rs 1,07,960 in 18-carat.

Furthermore, in cities like Delhi, 1 gram gold is priced at Rs 14,410 in 24-carat, at Rs 13,210 in 22-carat and at Rs 10,811 in 18-carat. Here, 10 grams gold is priced at Rs 1,44,100 in 24-carat, at Rs 1,32,100 in 22-carat and at Rs 1,08,110 in 18-carat.

Should You Buy Gold Or Not?

For domestic investors, Subburaj said, gold needs to hold above Rs 1,42,100 to avoid renewed downside pressure. A sustained move beyond Rs 1,44,265 would strengthen the recovery. Silver needs to defend Rs 1,91,516 per kg, while a move above Rs 1,97,388 would improve near-term momentum.

He added that the rebound remains tentative. Investors should avoid chasing short-term price moves and wait for the Fed's signals and fresh MCX prices before taking larger directional positions.

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