Gold, silver rates today: Precious metals extend decline amid market volatility; check 24K
The India Bullion and Jewellers Association's (IBJA) Physical Market Report dated August 28 showed the PM rate for 999-purity gold at ₹1,58,386 per 10 grams. Gold prices remained under pressure on Monday, 31st August, after the sharp sell-off on Friday, with the stronger US dollar…
Gold prices remained under pressure on Monday, 31st August, after the sharp sell-off on Friday, with the stronger US dollar, elevated Treasury yields and increased expectations of a Federal Reserve rate hike weighing on bullion. The India Bullion and Jewellers Association's (IBJA) Physical Market.
Silver of 999 purity stood at ₹2,39,500 per kg. Tata Mutual Fund's August 2026 outlook remains constructive on gold and silver over the medium to long term, while highlighting near-term volatility.
What Happened
The report sees central-bank gold purchases, geopolitical uncertainty and portfolio diversification as key supports for gold. For silver, industrial demand from electronics, renewable energy and AI-related applications remains a long-term positive, although higher volatility and fluctuations in industrial demand could lead to.
The India Bullion and Jewellers Association's (IBJA) Physical Market Report dated August 28 showed the PM rate for 999-purity gold at ₹1,58,386 per 10 grams.
Demat Account within minutes!Join now On the MCX, October gold futures were trading around ₹1,56,400 per 10 grams, down roughly 1.7%, while December silver futures were around ₹2,42,670 per kilogram, down about 2.1% at.
Tanishq’s 24 Karat gold rate is ₹15,873 per gram, or ₹1,58,730 per 10 grams, on 31 August 2026.
Key Details
The report favours a staggered investment approach and suggests a broad 70:30 strategic allocation between gold and silver.
The rate has remained unchanged from 30 August and 29 August, when it was also ₹15,873 per gram.
In comparison, Tanishq’s 22K gold rate is ₹14,550 per gram (₹1,45,500 per 10 grams).
Thus, the difference between 24K and 22K is ₹1,323 per gram, with 24K being about 9.1% higher.
Why It Matters
On Monday, August 31, 2026, Joyalukkas lists its 22 KT gold rate at ₹14,505 per gram across Andhra Pradesh, Delhi, Gujarat, Karnataka, Kerala, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal.
That works out to ₹1,45,050 per 10 grams.
Malabar Gold & Diamonds’ gold rate was ₹14,505 per gram for 22K (916) purity and ₹15,824 per gram for 24K (999) purity, as per the rates last updated on August 29, 2026, at 12:02.
What Reports Say
Coverage of the story so far points to:
On a 10-gram basis, the rates work out to ₹1,45,050 for 22K gold and ₹1,58,240 for 24K gold.
Continued reporting by Upstox as more details emerge
