Gold and Silver Price Update: Delhi Gold Dips Below Rs 1.5 Lakh per 10g

Current Market Trends for Gold and Silver Price

In late September 2026, the precious metals market in India witnessed a notable shift. On 29 September 2026, the price of 99.9% purity gold in Delhi slipped below the psychological threshold of Rs 1.5 lakh per 10 grams for the first time since 31 July 2026. While gold experienced this volatility, the silver price remained remarkably steady in the national capital.

Metal	Purity/Unit	Price (Delhi)	Date Reported
Gold	99.9% / 10g	Rs 1,48,600	29 Sept 2026
Gold	22K / 1g	Rs 13,695	1 Oct 2026
Silver	Per kg	Rs 2.32 lakh	29 Sept 2026
Silver	Per 10g	Rs 2,350	1 Oct 2026

Why the Gold Rate Today Fluctuated

The decline in the gold rate today (as of 29 September) was driven by a combination of domestic and international factors. According to ThePrint, the metal fell by Rs 1,400 from the previous day's close of Rs 1.50 lakh per 10 grams. Analysts attribute this drop to "bearish local demand and a soaring US dollar."

The US dollar's strength typically makes greenback-denominated metals more expensive for overseas buyers, putting downward pressure on local prices. Additionally, The Times of India noted that higher interest rates generally reduce gold's appeal as it does not generate yield.

Silver Stability and Global Context

Unlike gold, the today gold rate movements were not mirrored by silver in Delhi. Silver remained unchanged at Rs 2.32 lakh per kilogram on 29 September, following a previous session where it had fallen by Rs 5,000. By 1 October 2026, silver continued to hold at approximately Rs 2,350 per 10 grams in the national capital.

On the global stage, the trend was slightly different. While domestic markets felt the pressure, spot gold showed signs of recovery. On 29 September, spot gold rose to USD 4,145.26 per ounce, and by 1 October, it was trading modestly higher at around USD 4,190 per ounce. Silver globally traded near USD 60.5 to USD 60.69 per ounce during this period.

Regional Price Variations

It is important for buyers to note that these rates are specific to the Delhi bullion market. On 30 September 2026, other cities reported different opening rates. In Mumbai, pure gold (99.9%) opened at Rs 1,48,379 per 10 grams, while silver spot opened at Rs 2,22,273 per kilogram. In Chennai, 22-carat gold opened at Rs 13,710 per gram.