Gold and silver prices moved higher on Friday, October 16, 2026, giving buyers another price change to consider during the festive season. Gold futures on the Multi Commodity Exchange (MCX) recorded a rise of ₹793, while silver prices also advanced amid gains in domestic and international markets.
MCX gold rose 0.54% to ₹1,48,282 per 10 grams, compared with its previous closing price of ₹1,47,489. Silver climbed 1.03% to ₹2,12,830 per kilogram. The latest movement may influence buying decisions for customers planning to purchase jewellery ahead of festivals.
Gold and Silver Prices in the International Market
Precious metals also traded higher in the international market on October 16. At around 9 AM, gold on COMEX gained 0.72% to reach $4,200.10 per ounce.
Silver prices recorded a stronger increase, rising 1.32% to $59.910 per ounce. Developments in international markets can influence domestic bullion prices, along with currency movements and local demand.
MCX Gold and Silver Rates Today
Gold and silver futures registered gains during the morning trading session on Friday.
Gold contracts for December 4 delivery increased by ₹691, or 0.47%, to ₹1,48,180 per 10 grams. Silver futures rose by approximately ₹2,500 to ₹2,12,830 per kilogram.
The prices quoted on MCX represent futures-market rates. Retail prices may differ depending on the city, jeweller, applicable taxes and making charges.
City-Wise Gold Rates on October 16, 2026
The following table provides the reported prices for 24K, 22K and 18K gold across major Indian cities. All prices are for 10 grams.
| City | 24K Gold | 22K Gold | 18K Gold |
|---|---|---|---|
| Delhi | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Mumbai | ₹1,49,290 | ₹1,36,850 | ₹1,11,970 |
| Kolkata | ₹1,49,290 | ₹1,36,850 | ₹1,11,970 |
| Chennai | ₹1,49,290 | ₹1,36,850 | ₹1,12,350 |
| Patna | ₹1,49,340 | ₹1,36,900 | ₹1,12,020 |
| Lucknow | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Meerut | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Ayodhya | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Varanasi | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Ghaziabad | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Noida | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Gurugram | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Chandigarh | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
| Jaipur | ₹1,49,440 | ₹1,37,000 | ₹1,12,120 |
What Should Gold Buyers Know?
Gold is available in different purity levels, with 24K representing a higher level of purity than 22K and 18K gold. While 24K gold is commonly associated with investment products, 22K and 18K gold are widely used for jewellery.
Since prices can change throughout the trading day, buyers should confirm the latest rate with their jeweller before making a purchase. The final jewellery bill may also include making charges and applicable taxes, so checking the complete cost is important.
Disclaimer: This article is for general informational purposes only and does not constitute financial or investment advice. Gold and silver prices fluctuate with market conditions, and the rates listed above are based on the information provided for October 16, 2026. Actual prices may vary by seller and location. Please verify current rates with a trusted jeweller or official market source before making a purchase or investment decision.
