Gold in India is sold by the gram, and the rate moves every trading day with global prices and the rupee. As of 1 October 2026, the gold rate in India is about Rs 1,49,580 per 10 grams for 24 karat gold and around Rs 1,37,110 per 10 grams for 22 karat, with international gold holding near $4,180 an ounce even as Brent crude jumped back toward $102 a barrel.
The move this time is less about oil than about rates. Brent crude jumped 4.4% to $102.31 on 1 October on a report that a third US aircraft carrier is heading toward the Middle East, which would normally add a fear premium to gold, but the Federal Reserve's elevated policy rate kept the dollar gold price roughly where it was, with the small dip in the gold price, not a rise, flowing through to the Indian rate.
For buyers, the headline rate is only part of the cost. GST and making charges sit on top, so the final bill for jewellery is always higher than the quoted gold price.
Gold rate by carat
The rate you pay depends on purity. Here is how the three common carats compare on 1 October 2026.
The 22K rate sits about 8 to 9% below 24K, while 18K, used in lighter and studded jewellery, is roughly a quarter cheaper than pure gold per gram.
Why the rate moves
The Indian gold rate is set by three forces. The international gold price, quoted in dollars per ounce, is the biggest driver, and at about $4,180 an ounce on 1 October 2026 it is roughly 25% below the record near $5,602 set in late January 2026. When the global price moves, Indian rates follow within a day.
The second force is the rupee. With the rupee weakening to about 96.3 to the dollar on 1 October 2026 as oil jumped, currency weakness normally cushions a falling dollar gold price, though this time it was not enough to fully offset the small dip in the international rate.
The third is duties and local demand. Import duty sits inside the price, and demand spikes during the festival and wedding seasons nudge premiums higher even when the metal itself has not moved.
What it means for buyers
For jewellery buyers, the key is to look past the headline rate. A 3% GST and making charges of anywhere from 8% to 25% mean your final cost is well above the quoted gold price, so comparing making charges between jewellers matters as much as the gold rate itself. Coins and bars carry lower making charges than intricate designs.
For investors who want gold purely as an asset rather than as jewellery, paying making charges on physical gold is inefficient. With Sovereign Gold Bond issuance ended, Gold ETFs are now the default paper-gold route, tracking the price without the markup, as our guide on how to invest in gold in India explains. With Navratri and Diwali ahead, our buying gold this festive season piece covers what actually drives your final bill. You can track the global driver on our gold price today page, and for the white metal see our silver rate today in India page.
What to watch
The first thing to watch is the international gold price, since it sets the direction for Indian rates. Gold barely moved even as oil jumped on reports of a third US carrier heading toward the Middle East, so whether that build-up turns into an actual strike is the thing that would test whether gold's fear premium is really dormant or just delayed.
The second is the rupee. A sharp move in the rupee can swing Indian gold rates independently of global prices, so currency news matters for gold buyers too, particularly with the rupee weakening again toward its record low.
The third is the season. Wedding and festival demand from late September lifts premiums and making charges rather than the metal rate, so timing a large purchase outside peak demand is usually where the saving is.
Gold remains a cornerstone of Indian savings, and at about Rs 1.50 lakh per 10 grams it eased slightly even in a week when the Gulf tension it usually tracks got worse. Whether you are buying to wear or to invest, knowing the live rate, the carat, and the charges on top is the difference between a good deal and an expensive one.