Gold’s October 12 morning benchmark moved below the previous working day’s morning reading. The India Bullion and Jewellers Association rate table showed 999-purity gold at ₹1,48,425 per 10 grams, compared with ₹1,49,614 on October 9: an AM-to-AM decline of ₹1,189.
The figures were checked on October 12, 2026 at 14:55 IST. The afternoon, or PM, column was blank then. This is a dated morning observation—not today’s closing price, a continuously traded quote or an MCX futures settlement.
Compare the same purity and session
| Gold purity | October 12 AM | October 9 AM |
|---|---|---|
| 999 | ₹1,48,425 | ₹1,49,614 |
| 995 | ₹1,47,831 | ₹1,49,015 |
| 916 | ₹1,35,957 | ₹1,37,046 |
| 750 | ₹1,11,319 | ₹1,12,211 |
| 585 | ₹86,829 | ₹87,524 |
All amounts above are Indian rupees per 10 grams. The dated IBJA opening-and-closing rate sheet confirms the comparison and lists October 10 and 11 as Saturday and Sunday. For 916-purity gold, the morning rate fell from ₹1,37,046 to ₹1,35,957, a decline of ₹1,089 per 10 grams.
Why the benchmark is not your jewellery bill
IBJA states that its displayed rates exclude 3% GST and making charges. Therefore, ₹1,48,425 should not be presented as the final amount every buyer will pay at a shop. It also should not be labelled a verified Mumbai, Delhi or Kolkata retail quote: no individual jeweller’s offer was checked for this report.
When comparing two offers, first match the purity and the net gold weight. Then ask for the metal component, making charges and applicable taxes to be itemised. A comparison between a 999-purity benchmark and a differently specified ornament can be misleading even when both use a “gold price” label.
What the update does—and does not—show
The evidence establishes a lower morning benchmark. It does not establish why gold moved, predict the next rate or provide a personal buy-or-sell recommendation. Any later PM reading must be treated as a separate observation, rather than silently replacing this historical snapshot.
For the earlier session’s context, see CapKet’s October 9 benchmark and weekend-rate report. Its original publication date and observations remain unchanged.