Gold and Silver Prices in India Today, 28 September 2026: Gold at ₹148,010, Silver at ₹227,640 as Both Tumble

24K gold is trading at ₹148,010 per 10 grams today, tumbling more than 2% in a single session as fears of another US Federal Reserve rate hike and a stalled US-Iran negotiation that keeps crude oil expensive combine to hit precious metals hard. Silver has fallen even more sharply, dropping to ₹227,640 per kilogram and down more than 3% on the day. MCX gold slid 2.40% to ₹147,256 per 10g while MCX silver plunged 3.04% to ₹227,571 per kg, and Comex gold dropped 3.13% to $4,185.90 an ounce, a seven week low, while Comex silver crashed 4.92% to $61.62, marking one of the steepest single day falls for both metals in recent weeks.

Today is the sharpest fall in weeks.

City Wise Gold and Silver Rate Today in India, 28 September 2026

Note: Jewellery prices add making charges and GST on top. These are morning session figures; rates fell steeply through the day, which is why they sit well above the afternoon bullions.co.in snapshot used elsewhere in this article. Chennai carries a silver premium over the other cities.

Gold Price Today: What Changed

24K gold is at ₹148,010 per 10g today. On MCX, gold is at ₹147,256 per 10g, down ₹3,625, or 2.40%. The session high was ₹150,100 and the low was ₹146,749. Comex gold is at $4,185.90 an ounce, down 3.13% on the day.

Gold is now down close to 3.8% over the past week and more than 5.6% over the past month, though it still holds a gain of nearly 29% over the past year.

Silver Rate Today: What Changed

Silver is at ₹227,640 per kg today. On MCX, silver is at ₹227,571 per kg, down ₹7,125, or 3.04%. The session high was ₹232,300 and the low was ₹226,101. Comex silver is at $61.62 an ounce, down 4.92% on the day.

Silver has fallen nearly 5% over the past week and more than 4.3% over the past month, though it remains up 60% over the past year.

MCX Gold and Silver Rate Today

Gold Futures

Silver Futures

Source: Bullions.co.in, last updated 28 September 2026, 15:30 IST.

MCX prices fell less than Comex today, with a weaker rupee at around 96 to the dollar cushioning the drop for Indian buyers. Gold and silver are both trading near their session lows, showing sellers stayed in charge through the day. Unless oil prices ease or rate hike fears cool, more weakness looks possible in the near term.

Key Reasons Behind Today's Price Move

Here is what is driving prices today:

• Comex Silver Crashes 4.92%: Silver on Comex plunged to $61.62 an ounce, its steepest single day fall in recent weeks.
• Comex Gold Hits a Seven Week Low: Gold on Comex fell 3.13% to $4,185.90 an ounce as rate hike fears grew.
• Rate Hike Fears Weigh on Metals: Higher oil prices are raising inflation worries and boosting bets on another US Federal Reserve rate hike.
• Stalled US-Iran Talks Keep Oil High: Talks between the US and Iran have stalled, keeping crude oil prices elevated and inflation fears alive.
• Weaker Rupee Cushions the Fall: The rupee slipped to around 96 per dollar, so MCX prices fell less than Comex prices today.

FAQs

Why did gold and silver fall sharply in India today, 28 September 2026?

Both metals fell as higher oil prices raised inflation worries and boosted expectations of another US Federal Reserve rate hike. Comex gold dropped 3.13% and Comex silver fell 4.92%, and MCX prices followed lower.

Why did silver fall more than gold today?

Comex silver dropped 4.92% against a 3.13% fall in Comex gold, so silver simply took the bigger hit. MCX silver fell 3.04% compared with a 2.40% decline in MCX gold.

Is today's sharp fall a good buying opportunity?

A drop of this size can make for a better entry point than buying at recent highs, but it is unclear if prices have bottomed out. Spreading purchases across a few sessions remains a safer approach than trying to catch the exact low.