Gold and Silver Price Today, September 29, 2026: Gold Falls Sharply, Silver Under Pressure

The gold and silver price today has come under pressure in Indian markets, with both precious metals witnessing a sharp decline after a steep fall in the previous trading session. On Tuesday, September 29, 2026, domestic bullion prices remained volatile as international gold prices stayed near a seven-week low.

The latest movement has attracted considerable attention among jewellery buyers and investors. Gold prices had recently climbed to exceptionally high levels, but rising US Treasury yields, a stronger dollar, higher crude oil prices and changing expectations around US monetary policy have triggered selling in the precious-metals market.

According to early trading data, MCX Gold October futures were around ₹1,46,513 per 10 grams, while MCX Silver December futures were around ₹2,27,390 per kg.

Gold Price Today in India

The domestic retail market also recorded a decline on September 29.

According to data cited by Mint from the India Bullion Association, Monday’s 24-carat gold price was ₹1,47,570 per 10 grams, while 22-carat gold was ₹1,35,273 per 10 grams. Silver 999 fine was around ₹2,26,240 per kg.

City-wise prices vary slightly because local market conditions, taxes, dealer margins and jewellery charges can influence the final consumer price.

Gold and Silver Rates Today

These are reported retail reference rates for September 29 and can change during the day. Jewellery bills can be higher after adding applicable GST and making charges.

Why Are Gold Prices Falling Today?

The latest decline in gold is being driven by several international factors.

One of the biggest developments is the increase in US Treasury yields. Gold does not generate interest income, so when bond yields rise, the opportunity cost of holding bullion increases. This can encourage investors to move towards interest-bearing assets.

The US dollar has also strengthened. Since international gold is generally priced in dollars, a stronger US currency can make bullion more expensive for buyers using other currencies.

According to Reuters, spot gold dropped almost 4% in the previous session and touched its lowest level since August 5 before recovering slightly on Tuesday. The metal was still close to a seven-week low.

Higher crude oil prices have added another layer of uncertainty. Rising energy costs can increase inflation concerns and influence expectations regarding future interest-rate decisions.

US Federal Reserve Rate Expectations

The US Federal Reserve remains an important factor for global bullion prices.

Recent market pricing has increased expectations for additional rate hikes, with Reuters reporting that markets were pricing roughly a 70% probability of an October hike and about 95% for December.

Higher interest rates can weigh on gold because investors have greater incentives to hold yield-generating assets.

However, the outlook can change quickly when new inflation, employment or economic-growth data is released. Traders are therefore watching upcoming US economic indicators closely.

Silver Price Today in India

Silver has also witnessed significant volatility.

MCX Silver December futures were trading around ₹2,27,390 per kg during early Tuesday trading, while retail silver prices in major cities were generally around ₹2.25 lakh to ₹2.28 lakh per kg.

Silver has experienced particularly strong price movements this year because it is influenced by both investment demand and industrial consumption.

The metal is used in areas such as electronics, solar technology, electrical equipment and other industrial applications. As a result, silver can react not only to monetary policy and currency movements but also to expectations about industrial demand.

Silver Prices Under Pressure

Silver suffered a particularly sharp decline during the previous session.

Goodreturns reported that spot silver had fallen around 6% on Monday and was trading near $60 per ounce on Tuesday. MCX silver had also fallen below the ₹2.30 lakh-per-kg level.

Financial Express separately reported that silver futures were down more than 1% in international trading and that Indian December silver futures were around ₹2,25,500 per kg in Tuesday trading.

The different quoted prices reflect different contracts and times of reporting, which is why bullion rates can vary across platforms.

Gold Price Today: 24K vs 22K

For buyers, understanding gold purity is important.

24K gold generally represents 99.9% purity and is commonly used for investment products such as bars and coins. It is relatively soft, making it less suitable for many types of jewellery.

22K gold contains a higher proportion of other metals and is commonly used for jewellery because it offers greater durability.

This is why the price per 10 grams for 22K gold is lower than the quoted 24K rate.

Jewellery buyers should also remember that the final bill does not simply equal the market gold price. Making charges, GST and other applicable costs can increase the amount paid to the jeweller.

Gold Price in Kolkata Today

In Kolkata, the reported September 29 retail rate for 24K gold was approximately ₹1,47,050 per 10 grams, while 22K gold was around ₹1,36,015 per 10 grams.

Silver 999 fine was reported around ₹2,27,850 per kg.

Local jewellery shops may quote somewhat different prices because retail rates can include different margins and charges.

Gold Price in Delhi Today

Delhi’s reported 24K gold rate was around ₹1,46,990 per 10 grams, while 22K gold stood at approximately ₹1,34,741 per 10 grams.

Silver 999 fine was around ₹2,25,490 per kg.

Delhi is one of India’s major bullion and jewellery markets, so daily rate movements are closely followed by consumers.

Gold Price in Mumbai Today

Mumbai also recorded elevated bullion prices despite the recent decline.

The reported rate for 24K gold was around ₹1,47,250 per 10 grams, while 22K gold was around ₹1,34,979 per 10 grams.

Silver 999 fine stood around ₹2,25,870 per kg.

Gold and Silver Outlook

The immediate direction of bullion prices remains sensitive to global economic developments.

Markets are watching upcoming US economic data, including inflation and employment figures, because these releases could influence expectations for Federal Reserve policy.

Goodreturns cited analysts who highlighted the importance of the upcoming Core PCE inflation data and US employment report for assessing the interest-rate outlook.

Crude oil prices are another factor. If energy prices remain elevated, inflation expectations could stay high, potentially affecting interest-rate expectations and bullion demand.

At the same time, geopolitical developments can quickly change investor behaviour. Gold has historically attracted safe-haven demand during periods of financial or geopolitical uncertainty, although short-term prices can still experience sharp declines.

Is Gold Still Important for Indian Buyers?

Gold continues to have a major role in India’s jewellery market and household savings culture.

Demand typically increases around festivals, weddings and other important occasions. However, high prices can encourage buyers to reduce the quantity purchased or postpone purchases.

For investors, gold can serve a different purpose from jewellery. Investment products can include gold ETFs, digital gold and physical bars or coins, each carrying different costs and risks.

Silver is also increasingly followed by investors because of its industrial applications and comparatively lower price per unit than gold.

Things to Check Before Buying Gold or Silver

Consumers should consider several points before making a purchase:

• Check the day’s benchmark rate.
• Confirm the purity of gold.
• Look for the BIS hallmark on eligible gold jewellery.
• Ask for a detailed invoice.
• Check making charges separately.
• Confirm GST and other applicable charges.
• Compare rates among established jewellers.
• For investment purchases, consider liquidity and storage requirements.

Most importantly, the quoted market rate and the final jewellery price are not necessarily the same.

Gold and Silver Price Today: Key Highlights

• Gold prices declined sharply after a major fall in the previous session.
• MCX Gold October futures were around ₹1,46,513 per 10 grams in early Tuesday trading.
• MCX Silver December futures were around ₹2,27,390 per kg.
• Spot gold remained near a seven-week low after its biggest one-day decline in recent months.
• A stronger US dollar and higher Treasury yields are weighing on bullion.
• Higher crude oil prices are contributing to inflation concerns.
• Investors are watching upcoming US inflation and employment data.
• Retail gold and silver rates can differ between cities and jewellers.

Final Word

The gold and silver price today, September 29, 2026, reflects a sharp change in bullion-market sentiment after both metals experienced substantial selling pressure. Gold remains near a seven-week low internationally, while silver has also fallen significantly from recent levels.

In India, 24K gold is trading around the ₹1.47 lakh-per-10-gram range in several major cities, while silver is around ₹2.25 lakh to ₹2.28 lakh per kg based on reported retail rates.

The combination of stronger US yields, a firmer dollar, elevated crude oil prices and changing Federal Reserve expectations remains important for precious metals. However, bullion markets can move rapidly when new economic or geopolitical information emerges.

For jewellery buyers, the headline rate is only one part of the final purchase price. Making charges, GST, purity and jeweller-specific pricing should also be checked before completing a transaction.