NEW DELHI — The bullion market has opened on a mixed note today. While Gold prices have remained relatively flat after the New Year volatility, Silver has continued its historic bull run, crossing the ₹2.37 Lakh/kg mark due to massive industrial demand.
If you are planning to buy jewelry or bullion today, here is the complete breakdown of rates, taxation, and city-wise variations.
1. National Gold Rates (January 2, 2026)
Rates per Gram (Excluding GST & Making Charges)
| Purity Category | Price Per Gram | Price Per 10 Grams | Change (vs Yesterday) |
| 24 Carat (99.9% Pure) | ₹ 13,507 | ₹ 1,35,070 | ▲ +₹10 |
| 22 Carat (Standard) | ₹ 12,381 | ₹ 1,23,810 | ▲ +₹10 |
| 18 Carat (Diamond Gold) | ₹ 10,130 | ₹ 1,01,300 | ▲ +₹10 |
Note: These are indicative market rates. The final price at the showroom will be Rate + 3% GST + Making Charges (8-25%).
2. City-Wise Gold Rate (22 Carat & 24 Carat)
Gold prices vary slightly by city due to local taxes and transportation costs.
| City | 22 Carat (10g) | 24 Carat (10g) |
| New Delhi | ₹ 1,23,950 | ₹ 1,35,210 |
| Mumbai | ₹ 1,23,810 | ₹ 1,35,070 |
| Chennai | ₹ 1,24,450 | ₹ 1,35,760 |
| Kolkata | ₹ 1,23,810 | ₹ 1,35,070 |
| Bangalore | ₹ 1,23,810 | ₹ 1,35,070 |
| Hyderabad | ₹ 1,23,810 | ₹ 1,35,070 |
| Ahmedabad | ₹ 1,23,860 | ₹ 1,35,120 |
| Pune | ₹ 1,23,810 | ₹ 1,35,070 |
| Srinagar | ₹ 1,24,800 | ₹ 1,35,500 |
3. Silver Rate Update: The “Poor Man’s Gold” is on Fire
While gold is stable, Silver is the big story of 2026. Driven by demand from the EV and Solar sectors, silver prices have surged.
- Silver Rate (1 Kg): ₹ 2,37,770
- Silver Rate (1 Gram): ₹ 237.70
- Trend: Bullish (Up by approx ₹1,000/kg in the last 24 hours).
4. Calculate Your Final Bill
Many customers get confused by the “Board Rate” vs “Bill Amount”. Here is how to calculate the actual cost for a 10-gram 22K Chain:
- Gold Value: ₹ 1,23,810
- Making Charges (Assume 12%): + ₹ 14,857
- Subtotal: = ₹ 1,38,667
- GST (3% on Subtotal): + ₹ 4,160
- Final Price to Pay: ₹ 1,42,827
5. Why are prices so high in 2026?
- Global Interest Rates: The US Federal Reserve is expected to cut rates further in 2026, which weakens the dollar and pushes gold prices up.
- Geopolitics: Ongoing tensions in the Middle East and Eastern Europe are keeping “Safe Haven” demand high.
- Central Bank Buying: Nations like China and Russia are hoarding gold, reducing the global supply available for retail buyers.
Frequently Asked Questions (FAQs) – Buying Gold in 2026
24K (99.9% Pure): This is the purest form of gold. It is soft and brittle, making it unsuitable for intricate jewelry. It is best for investment (coins/bars).
22K (91.6% Pure): This contains 91.6% gold and 8.4% other metals (copper/silver/zinc) to make it durable. This is the standard for jewelry making.
The formula is: (Price of 22K Gold x Weight) + Making Charges + 3% GST. Example: If gold is ₹12,000/gm and you buy 10 grams with 10% making charges: (₹1,20,000) + (₹12,000 Making) = ₹1,32,000 + 3% GST (₹3,960) = ₹1,35,960.
In 2026, Silver is outperforming Gold in terms of percentage growth due to industrial demand (Solar/EVs). However, Gold remains a safer, less volatile asset for long-term wealth preservation.
Sold before 2 years: Profits are added to your income and taxed as per your slab (STCG).
Sold after 2 years: Profits are taxed at 12.5% (LTCG).
Inherited Gold: No tax when you receive it, but capital gains tax applies when you eventually sell it.
Disclaimer: Gold and Silver rates are subject to global market fluctuations and may vary by city and jeweler. Prices mentioned are indicative and exclude GST/Making Charges. Please verify the final amount with your local dealer before purchasing.
