Gold Rate Today 2026: Buying Gold on Your Credit Card

24K gold is ₹14,329/g and silver is just under ₹2 lakh/kg on MCX. Before you swipe for upcoming Dhanteras, know the real cost at the counter.

Buying gold at shops attracts 3% GST and making charges, plus the 1–2% card surcharge. That’s why paying by credit card can make the gap wider. And despite that, rewards often come to zero.

Avoid this: You choose a 10g chain for Dhanteras, the jeweller quotes about ₹1.5 lakh, and you hand over your card thinking about the reward points. They say it’ll cost you 2% extra on the card. That's roughly ₹3,000 extra.

Most cards give zero rewards on jewellery merchants anyway. So, going for the points ends up costing you money.

Gold rate today and silver rate today (27 Oct 2026)

These are India retail rates from Goodreturns for the morning of 27 October 2026. They exclude 3% GST and making charges.

Rates vary slightly by city and source. Delhi’s gold, for example, is slightly higher, with 24K at ₹14,344/g and 22K at ₹13,150/g. So, these rates are just reference points. Your cost depends on the one your jeweller quotes at billing.

Today's rise is the biggest one-day gain in 10 days, but it's a rebound, not a reversal. Over the week to 26 October, 24K gold was still down about 2.8%.

Silver price today. The MCX/spot-linked rate is about ₹1,95,900 per kg (December contract). It has slipped below the ₹2 lakh mark. The retail rate you pay a shop is higher, though. Goodreturns shows about ₹2,20,000 per kg (₹220 per gram). If you're buying silver coins or utensils over the counter, the retail rate is the one to compare.

Globally, spot gold is around $4,010 an ounce, close to a three-month low, and silver is around $54. Gold is now roughly 20% below its January 2026 record, when 24K in India peaked at about ₹17,900 per gram (₹1.79 lakh per 10g).

Why gold and silver fell last week

The major reason is that oil prices stayed high after the disruption around the Strait of Hormuz, and that made markets expect a tougher US Fed. Traders now expect at least three US rate hikes over the next year, with about 82% odds of one in December.

Higher rates make gold less attractive because gold pays no interest. In the week to 26 October, gold fell about 2.8% and silver about 6.4%.

Oil has cooled a little on renewed US-Iran talks, so prices are steadying, but the recovery is fragile.

The US Fed meets on 27–28 October, and the decision comes tomorrow night, 28 October, at 9 pm IST, and markets expect no change (about 86% odds). Whichever way the Fed goes, the rate on your bill will still sit well above the existing rate once making charges and GST are added.

Should you buy gold with a credit card? The short answer

You can, but only if your card actually earns rewards on jewellery merchants, and the jeweller doesn't add a card surcharge. If not, you should use UPI, a debit card or a bank transfer. A credit card helps with gold in a few specific cases. It doesn't usually.

The real cost of 10g of 22K jewellery at today's gold rate

Let's do the maths, assuming 12% making charges for illustration. Real making charges vary a lot by design and jeweller, so ask yours.

The maths: Without a surcharge, a card earning 1% on jewellery gets you about ₹1,500 back on this chain. That's nice, but it's only about 1% of the bill. With a 2% surcharge, you lose around ₹1,500. And with a surcharge on a card that excludes jewellery, you pay ₹3,030 for nothing.

Also look at the charges. The gold itself is ₹1,31,350, but you pay ₹1,51,525. Making charges and GST add about 15% to the cost. So, if you're buying gold as an investment rather than to wear, you’ll never get that 15% back when you sell.

Four things banks don’t highlight on festive posters

1. Jewellery spends often earn nothing

Jewellery stores usually take your swipe under MCC 5944. An MCC (merchant category code) is the four-digit label that tells your bank what kind of shop you paid. Many Indian cards put jewellery or precious metals in their reward exclusions, or cap rewards on that category. So, check your card's current terms before Dhanteras and see how jewellery spends are treated.

2. The card charges of 1–2% at the counter

Every Dhanteras, cardholders complain that their card charges 1.5% or sometimes 2% extra on credit card. It’s the card-processing fee, and merchants aren't supposed to pass that fee on to you. But many smaller jewellers do it anyway. Ask about it before the bill is printed. If they won't drop it, pay by UPI. As the maths above shows, a surcharge wipes out your rewards.

3. EMI on gold mostly isn't available

Back in 2013, RBI told banks not to convert gold purchases on credit cards into EMIs. Thus, most issuers still block EMI conversion on jewellery spends. If someone offers you no-cost EMI on gold, read the small print carefully.

If you can't pay in full by the card's due date, you probably shouldn't buy that much gold this year. Card interest runs at roughly 36–48% a year, and no festive discount makes up for that.

4. Never take a cash advance to pay the jeweller

Cash advances usually cost around 2.5–3% (often with a ₹500 minimum), and interest starts right on day one with no interest-free period. That costs more than the credit card surcharge you may be avoiding. Also, jewellers can't accept ₹2 lakh or more in cash for one bill. So, plan to pay digitally anyway if you're buying something big.

Coins and bullion: Tanishq, CaratLane, MMTC-PAMP, Amazon and Flipkart

Gold coins and bars have far lower making charges than jewellery, which makes them a sensible Dhanteras buy if your goal is to have some gold in the house. Card offers are different in that case.

• Tanishq and CaratLane (both Titan group): Festive offers from these chains tend to target making charges or studded and diamond pieces rather than plain gold coins. If there's a bank card offer, check whether coins and 24K items are excluded before you go to the store.
• MMTC-PAMP: Coin prices are linked to the bullion rate plus a premium for minting and certification. Compare the price per gram including GST with your local jeweller's 24K rate.
• Amazon and Flipkart gold coins: Sale-season bank discounts commonly list gold, silver coins and jewellery as excluded categories. Read the offer terms for the coin you've chosen. Our breakdowns of the Amazon Great Indian Festival 2026 bank offers and the Flipkart Big Billion Days 2026 bank offers cover the general rules. Co-branded cards also tend to exclude gold from their headline cashback, so don't assume the usual 5% applies.

Dhanteras 2026 bank offers can change week to week. And when an offer goes live, judge it with the same maths as above: offer value minus any surcharge, compared with paying by UPI.

Buy now or wait for Dhanteras on 6 November?

Nobody knows where gold will be on 6 November. Goldman Sachs still forecasts $4,650 an ounce for end-2026, and central banks bought 289 tonnes in Q2, a record for a second quarter. So there are reasons for prices to go up as well as down. The Fed decision on 28 October could also push prices either way.

If you're buying for a wedding or a family tradition, buy in two lots. Buy half now, at a price already about 20% below January's peak, and the rest on Dhanteras.

Splitting it like this means you don't have to get the timing right. If you're buying purely as an investment, jewellery is the most expensive way to do it because of the making charges and GST.

So, which card should you actually use?

It depends on your city and your jeweller. So, here's what to do:

1. Check your card's exclusions for "jewellery" or MCC 5944 tonight. If jewellery is excluded, the card's only advantage is the interest-free period.
2. Ask the jeweller about card charges before billing. If there's any surcharge, pay by UPI or debit card. That costs nothing extra.
3. If there's no surcharge and jewellery earns rewards, use your highest-earning eligible card and pay the full statement amount by the due date.
4. If a bank offer is running, use that card only if the offer covers plain gold or coins. Then do the maths once more.
5. Don't use EMI, don't take a cash advance, and don't pay only the minimum due. If you can't pay in full, buy less.

For most people this Dhanteras, the best way is UPI at the jeweller. Credit card should be used only when there's a confirmed reward and no surcharge. Gold is meant to protect your money, so don't pay 2% on a ₹1.5 lakh bill to buy it.

If you want a card that works for your everyday spending the rest of the year, Monzy can help you compare.

One check before you go: UPI allows up to ₹2 lakh per payment to jewellers, but your bank or app may set a lower limit. Have it raised before Dhanteras, or split the payment between UPI and a debit card or bank transfer.

FAQs about using card for gold

What is the 22K and 24K gold rate today in India?

On 27 October 2026, Goodreturns showed 24K gold at ₹14,329 per gram (₹1,43,290 per 10g) and 22K at ₹13,135 per gram (₹1,31,350 per 10g). Both rose by about ₹50–54 per gram. These rates exclude 3% GST and other making charges. They also vary slightly by city.

What is the silver rate today per kg?

The MCX/spot-linked silver rate is about ₹1,95,900 per kg, after it slipped below the ₹2 lakh mark last week. Retail silver at shops is higher, at about ₹2,20,000 per kg (₹220 per gram), and it varies by city. When you buy coins or utensils over the counter, compare against the retail rate, not the MCX figure.

Do credit cards give reward points on gold and jewellery purchases?

Many don't. Jewellery stores usually process payments under MCC 5944, and several Indian cards exclude or cap rewards for that category. Co-branded shopping cards also tend to exclude gold coins from cashback. Check your card's current terms for jewellery before you buy, because issuers update these exclusion lists frequently.

Can a jeweller charge extra for paying by credit card?

Merchants in India aren't supposed to pass the card-processing fee on to you, but many jewellers add 1–2% as card charges anyway. On a ₹1.5 lakh bill that's ₹1,500–3,000, which is usually more than any reward you'd earn. Ask before billing, and pay by UPI if they won't remove it.

Can I buy gold on credit card EMI?

Generally, no. RBI asked banks in 2013 not to convert gold purchases on credit cards into EMIs, and most issuers still block EMI conversion on jewellery spends. If you can't pay the full statement by the due date, buy a smaller amount. Card interest of roughly 36–48% a year outweighs any festive saving.

Should I buy gold now or wait for Dhanteras 2026?

Nobody can reliably predict the price on 6 November, especially with the US Fed deciding on 28 October. If you're buying for a wedding or tradition, buy half now, when gold is already about 20% below January's peak, and the rest on Dhanteras. Splitting the purchase means you don't have to get the timing right.

Disclaimer

This is our honest read, not formal financial advice. We’re not your advisor, and before you act on anything big, run it past a professional. Rates quoted are morning figures for 27 October 2026 and will move during the day, so confirm the final price at billing.