Gold Silver Price Today (8 Oct): IBJA 7 Oct PM Rates, 24K at ₹1,47,767
₹1,47,767 for 10 grams of 24-carat gold: that is the last rate IBJA published before Thursday trade opens, from its Wednesday 7 October afternoon (PM) fix. If you are checking the gold silver price today early on 8 October, this is the newest benchmark available; IBJA’s Thursday fixes come out later in the day. Silver closed Wednesday’s PM fix at ₹2,20,866 a kg. Both rates exclude 3% GST and making charges.
The 22 carat gold rate (916) was ₹1,35,355 for 10 grams. Gold slipped ₹706 from Tuesday’s PM fix and silver lost ₹1,954, on the day RBI raised the repo rate by 25 basis points to 5.50%.
Gold silver price today: IBJA’s 7 Oct AM and PM fixes
The India Bullion and Jewellers Association publishes two fixes on trading days. Wednesday’s table on ibjarates.com was opened at about 2:45 AM IST on 8 October. Its “previous dates” list starts at 6 October, which is how we know the current table is Wednesday’s.
| Purity | 7 Oct AM (₹) | 7 Oct PM (₹) | AM to PM (₹) |
|---|---|---|---|
| Gold 999 (24K), 10 g | 1,47,975 | 1,47,767 | −208 |
| Gold 995, 10 g | 1,47,383 | 1,47,175 | −208 |
| Gold 916 (22K), 10 g | 1,35,546 | 1,35,355 | −191 |
| Gold 750 (18K), 10 g | 1,10,982 | 1,10,825 | −157 |
| Gold 585 (14K), 10 g | 86,566 | 86,444 | −122 |
| Silver 999, 1 kg | 2,21,584 | 2,20,866 | −718 |
For anyone tracking the gold silver price today by the gram, the PM fix works out to ₹14,776.70 for 24K and ₹13,535.50 for 22K. IBJA’s page carries the note “The above rates are without 3% GST and Making Charges”.
How Wednesday compares with Tuesday and last week
All three columns below use PM fixes, so they compare like with like.
| Purity | 30 Sep PM (₹) | 6 Oct PM (₹) | 7 Oct PM (₹) | Change vs 6 Oct |
|---|---|---|---|---|
| 24K, 10 g | 1,47,888 | 1,48,473 | 1,47,767 | −₹706 (−0.48%) |
| 22K, 10 g | 1,35,465 | 1,36,001 | 1,35,355 | −₹646 (−0.47%) |
| 18K, 10 g | 1,10,916 | 1,11,355 | 1,10,825 | −₹530 (−0.48%) |
| Silver, 1 kg | 2,20,435 | 2,22,820 | 2,20,866 | −₹1,954 (−0.88%) |
Gold has given back Tuesday’s gain and now sits ₹121 below its 30 September PM level. Silver is still ₹431 above that level.
Gold and silver rates in 10 cities
IBJA publishes a single national benchmark, not city prices. City rates come from jewellers’ quotes compiled by data providers. The table below is from GoodReturns’ gold and silver pages, opened at about 2:45 AM IST on 8 October. Those pages are headed “8 October 2026”, but their 10-day history ends at 7 October with the same figures, so we treat them as Wednesday’s rates.
| City | 24K per g (₹) | 22K per g (₹) | 18K per g (₹) | Silver per kg (₹) |
|---|---|---|---|---|
| Mumbai | 14,957 | 13,710 | 11,218 | 2,35,000 |
| Delhi | 14,970 | 13,725 | 11,233 | 2,35,000 |
| Chennai | 14,957 | 13,710 | 11,265 | 2,45,000 |
| Kolkata | 14,957 | 13,710 | 11,218 | 2,35,000 |
| Bengaluru | 14,957 | 13,710 | 11,218 | 2,35,000 |
| Hyderabad | 14,957 | 13,710 | 11,218 | 2,45,000 |
| Kerala | 14,957 | 13,710 | 11,218 | 2,45,000 |
| Pune | 14,957 | 13,710 | 11,218 | 2,35,000 |
| Ahmedabad | 14,960 | 13,715 | 11,223 | 2,35,000 |
| Vadodara | 14,960 | 13,715 | 11,223 | 2,35,000 |
Source: GoodReturns (data provider, not an official source). Rates exclude GST and making charges.
The city quotes run above IBJA. GoodReturns’ Mumbai 22K rate is ₹1,37,100 for 10 grams, which is ₹1,745 (1.29%) more than IBJA’s 916 PM fix. In silver the gap is larger: the city silver rate per kg was ₹2,35,000 in Mumbai against IBJA’s ₹2,20,866, a difference of ₹14,134. Delhi’s 22K quote is ₹150 per 10 grams above Mumbai’s. Chennai, Hyderabad and Kerala quote silver ₹10,000 a kg higher than the other cities.
What the bill looks like at Wednesday’s PM rate
Take 10 grams of 22K gold at the IBJA 916 rate of ₹1,35,355. Add 3% GST on the metal value alone and you get ₹1,39,415.65.
Now make it a chain with a 10% making charge. That adds ₹13,535.50, bringing the value to ₹1,48,890.50. GST at 3% on the full amount is ₹4,466.72, so the total comes to ₹1,53,357.21. The 3% applies to the whole value: the CBEC GST sectoral FAQ (2017, Q7) says GST “is payable at the rate of 3% of the total transaction value of jewellery, whether the making charge is shown separately or not.”
The IBJA silver rate per kg was ₹2,20,866 at Wednesday’s PM fix. For silver, 100 grams at that rate is ₹22,086.60, or ₹22,749.20 with GST. A 1 kg bar works out to ₹2,27,491.98 including GST.
Your jeweller’s quote can differ. Making charges, any hallmarking fee and the shop’s own rate all vary, so ask for an itemised bill before you pay.
What moved prices on Wednesday
On Wednesday, RBI’s Monetary Policy Committee raised the repo rate to 5.50% and moved its stance to “calibrated tightening”. Higher Indian interest rates do not set the gold price on their own: international prices and the rupee matter more. Rupee moves are tracked on our dollar to rupee today page, and the policy background is in our RBI policy October 2026 preview. Thursday’s IBJA fixes will show whether Wednesday’s fall continued.
If you are thinking of borrowing against jewellery rather than selling it, a lower gold rate also lowers the amount a lender will offer. Our gold loan guide explains how lenders value it.
Those are Wednesday’s numbers, and they remain the reference for the gold silver price today until IBJA’s Thursday AM fix appears. The questions readers ask most are below.
FAQs
Is this the gold rate for 8 October?
No. These are IBJA’s 7 October PM fix, the latest available at the time of writing. IBJA publishes Thursday’s AM and PM rates during the trading day.
Why does my jeweller charge more than IBJA?
IBJA’s benchmark leaves out GST and making charges, and city jewellers add their own margins. In GoodReturns’ Mumbai data, 22K was about 1.3% above IBJA before GST.
How much GST is charged on jewellery?
3% of the total transaction value, including the making charge (CBEC FAQ, Q7).
Which purity is 22 carat?
916, meaning 91.6% gold. The 22 carat gold rate on Wednesday’s PM fix was ₹1,35,355 for 10 grams.
Takeaway: use ₹1,35,355 per 10 grams (22K, IBJA 7 Oct PM) as your reference point, then check how far above it your jeweller’s quote sits before you add GST.
Sources
- IBJA rates: current AM/PM table (7 Oct 2026) and the “previous dates” list (6 Oct, 30 Sep).
- CBEC GST Sectoral Series: Gems & Jewellery FAQ (2017, PDF undated), Q7.
- GoodReturns gold and silver city tables (Tier 2, as above).
Last verified: 8 Oct 2026, 2:53 AM IST. Checked: IBJA rate table (opened via a web reader; our server could not reach ibjarates.com directly), CBEC GST FAQ PDF, GoodReturns city tables (data provider). City rates are jewellers’ quotes, not IBJA figures.
