As of Saturday, 28 February 2026, gold and silver prices in India are largely steady after a week of strong fluctuations. Internationally, gold is trading close to 5,200 US dollars per ounce, supported by global demand for safe assets and expectations of possible interest rate cuts in the United States.
In the domestic market, prices are stable with minor city-wise variations due to local taxes and jeweller margins. Buyers looking to purchase today will find rates similar to yesterday’s closing levels.
Current Gold and Silver Rates in India (Estimated)
Prices differ slightly across cities such as Mumbai, Delhi, Ahmedabad, and Chennai. The following are benchmark ranges observed in major markets:
Gold (24 Karat)
- Approximately ₹1,56,030 to ₹1,61,940 per 10 grams
Gold (22 Karat)
- Approximately ₹1,48,445 to ₹1,48,600 per 10 grams
Silver (999 Fine)
- Approximately ₹2,85,000 per kilogram
Buyers are advised to check with local jewellers for exact retail prices, as making charges and GST can affect final billing. The rates above are for pure bullion before these additions.
Estimated Price Range (28 February 2026)
| Metal | Purity | Price Range (Per 10 grams/kg) |
| Gold | 24 Karat | ₹1,56,030 – ₹1,61,940 |
| Gold | 22 Karat | ₹1,48,445 – ₹1,48,600 |
| Silver | 999 Fine | ~₹2,85,000 per kg |
Market Drivers and Performance
Safe Haven Demand
Renewed geopolitical tensions between the United States and Iran have pushed investors toward gold as a protective investment. During uncertain global conditions, gold traditionally attracts higher demand. When news cycles are filled with conflict concerns, gold prices tend to reflect that anxiety.
Monetary Policy Expectations
Markets are factoring in the possibility of interest rate cuts by the US Federal Reserve. When interest rates fall, non-interest-bearing assets like gold generally become more attractive. Investors who would otherwise park money in bonds or savings accounts look toward gold when returns on those instruments decline.
Profit Booking After Record Highs
Despite the overall upward movement seen earlier this month, some temporary weakness has appeared due to profit booking. Investors who purchased at lower levels are selling to lock in gains. This creates short-term dips that new buyers can potentially use as entry points.
Silver and Industrial Demand
Silver is also receiving support from demand in renewable energy and electronics manufacturing. Solar panels, electric vehicles, and consumer electronics all require silver components. However, higher silver prices are increasing project costs in some industries, which could eventually moderate demand.
Investment Trends in India
Indian investors are not only buying physical gold but also increasing their exposure to Gold Exchange Traded Funds (ETFs). In the last week of February, Gold ETFs recorded fresh inflows after brief profit-taking earlier in the month. This shows that institutional and retail investors alike see value in gold at current levels.
Additionally, new regulations from the Securities and Exchange Board of India (SEBI), effective from 1 April, will require gold ETFs to value their holdings based on domestic spot prices. This move is expected to reduce the gap between global and Indian pricing, making ETF investments more transparent and aligned with actual market conditions.
What Buyers Should Know
A few important points for anyone considering gold or silver purchases today:
- Prices are stable but remain near recent highs. Don’t expect major discounts.
- Short-term fluctuations may continue due to global events. What happens in Washington or Tehran affects prices in Mumbai and Delhi.
- Wedding season demand could influence retail prices in March. As more families shop for jewelry, demand pressure increases.
- Long-term investors are still viewing gold as a safety asset. Those looking at 5-10 year horizons are less concerned about daily movements.
With March approaching, market watchers expect continued volatility depending on global developments and currency movements. The dollar-rupee exchange rate will also play a role in determining domestic prices.
For now, rates are steady. Buyers can purchase with confidence that they’re getting fair market value, though waiting for a dip is always a gamble in volatile times.