Mumbai: Gold opened Wednesday on a softer note in the wholesale bullion market. As per the All India Bullion’s Zaveri Bazar (Mumbai) live reference, updated at 09:25 IST on 21 October 2026, 24-karat gold was quoted at ₹14,831 per gram — ₹1,48,313 per 10 grams — down ₹85 per 10 grams (0.06 per cent) from the previous close.
The day’s reference rates across purities: 22-karat gold at ₹13,585 per gram (₹1,35,855 per 10 grams) and 18-karat gold at ₹11,123 per gram (₹1,11,235 per 10 grams). Silver of 999 purity slipped ₹1,321 per kg (0.62 per cent) to ₹2,13,297 per kg.
The city snapshot for 24-karat gold per 10 grams showed marginal regional variation: Delhi ₹1,48,514, Chennai ₹1,48,599, Kolkata ₹1,48,113 and Bengaluru ₹1,48,504. These differences reflect local levies and logistics rather than any divergence in the underlying bullion trend.
A note of caution for buyers before the festive season: these are wholesale bullion-market reference rates, not retail jewellery bills. What you pay at a jewellery store will be higher — invoices add 3 per cent GST plus making charges and wastage, and branded retailers typically price above the reference band. Never assume the reported rate is the exact price you will be charged in every city; always ask the jeweller for a written, itemised bill showing the gold rate, weight, making charges and taxes separately.
The softness in prices comes at a relevant time for Indian households, with the wedding and festival calendar ahead. Small daily dips like today’s are normal market noise rather than a trend reversal, and buyers planning significant purchases are better served watching a week’s movement than reacting to a single day’s quote.
As always, verify the day’s rate with your jeweller before purchase, insist on BIS hallmarking, and keep the bill — it is your record of purity, weight and price, and the basis of any future resale or exchange.
Silver deserves a closer look for buyers as well. At ₹2,13,297 per kg, down ₹1,321 on the day, the white metal continues to trade at historically elevated levels, and its day-to-day volatility tends to be sharper than gold’s — today’s 0.62 per cent dip is a case in point. Buyers considering silver coins or bars should weigh that volatility against their horizon, and remember that retail silverware and jewellery carry the same tax and making-charge additions as gold.
The broader takeaway from today’s reference rates is stability with a mild downward tilt — gold down ₹85 per 10 grams, silver down over ₹1,300 per kg. For households timing purchases around festivals or weddings, these reference rates are a useful starting benchmark, but the number that matters is the final invoice. Ask for the rate, weight, making charges, wastage percentage and GST to be broken out line by line before you pay. And above all, treat these figures for what they are: wholesale bullion-market reference rates from Zaveri Bazar, updated at 09:25 IST — a guide, not the price on your jeweller’s bill.
