IBA lists 24K gold at ₹147,570 per 10g; 999 silver at ₹226,240 per kg
Indian Bullion Association retail benchmarks for September 29 put 24-carat gold at ₹147,570 per 10 grams and 999-fine silver at ₹226,240 per kg, with city-level rates varying across Mumbai, Delhi, Bengaluru, Kolkata, Hyderabad and Chennai.
The development
The Indian Bullion Association listed 24-carat gold at ₹147,570/10 grams and Silver 999 Fine at ₹226,240/kg on September 29.
The numbers
- ₹146,513 per 10 grams
- ₹227,390 per kg
- 0.02%
- 9:00 am
- $4,125 an ounce
- 4%
- seven-week
- 7 days
- ₹147,570/10 grams
- ₹135,273/10 grams
- ₹226,240/kg
- ₹147,250/10 gm
- ₹134,979/10 gm
- ₹225,870/1 kg
- ₹146,990/10 gm
- ₹134,741/10 gm
- ₹225,490/1 kg
- ₹147,360/10 gm
- ₹135,080/10 gm
- ₹226,050/1 kg
- ₹147,050/10 gm
- ₹136,015/10 gm
- ₹227,850/1 kg
- ₹147,520/10 gm
- ₹135,227/10 gm
- ₹226,190/1 kg
- ₹147,710/10 gm
- ₹135,401/10 gm
- ₹226,490/1 kg
- 75%
- ₹78,600 per kg
- ₹240,000 per kg
Why it matters to operators and investors
For retail and jewellery deal teams, sustained bullion inflation increases the value of inventory-heavy targets but makes normalized demand, hedging discipline and working-capital liabilities more important in valuation and diligence.
What to watch next
- Daily IBA gold and silver benchmark direction and intraday volatility
- Rupee movement versus the US dollar and international spot gold/silver prices
- Festival, wedding-season and Dhanteras pre-booking trends
- Old-gold exchange volumes and grams-per-invoice at organised jewellers
- Retail coin/bar premiums and stock availability
- Import-duty, GST, hallmarking or trade-policy changes affecting bullion pricing
- Consumer confidence, rural cash flows and disposable-income indicators
- Jewellery retailers should expand lightweight, modular and lower-ticket collections while prominently marketing exchange, buyback and monthly savings plans.
- Increase availability of certified small-denomination gold and silver coins/bars to capture investment demand without relying solely on high-ticket jewellery.
- Tighten bullion hedging and daily price-pass-through discipline, as rapid metal-price changes can compress margins on fixed-price promotions and unhedged inventory.
- Track conversion rates by ticket size, old-gold exchange share, and grams per invoice rather than relying only on revenue growth, which can be inflated by commodity prices.
- Non-jewellery discretionary retailers should watch for localized spend diversion in affluent and wedding-driven markets, particularly if bullion remains a prominent savings narrative.
The counter-case
This is a benchmark quote, not evidence of demand, margins or earnings for any retail company. Sharp bullion prices can suppress jewellery volumes, increase working-capital needs and encourage consumers to trade down, defer purchases or buy lighter-weight products. City-level retail rates may also diverge materially from the headline benchmark because of GST, making charges, local premiums and inventory conditions.