Gold Rate in India — 2 October 2026: Gandhi Jayanti Holiday and Latest IBJA Reference

2 October was an official IBJA/commodity-exchange holiday

There was no new IBJA opening or closing gold benchmark on Friday, 2 October 2026. IBJA’s official 2026 holiday list marks Mahatma Gandhi Jayanti on 2 October as both a Mumbai office holiday and a commodity-exchange holiday. The same document says opening and closing rates are not published on commodity-exchange holidays.

The latest available IBJA reference for 2 October was therefore the 1 October PM benchmark. Using that date explicitly is more accurate than copying the previous value and presenting it as a new holiday rate.

The per-gram values are derived by dividing the official 10-gram figures by ten. IBJA states that its historical gold rates are without 3% GST and making charges.

Why a holiday article should not invent a daily rate

Gold trading outside India can continue while a domestic benchmark service is closed. Retailers may also quote their own buying or selling rates. Those facts do not create a new IBJA publication.

A reliable price article should separate “latest available official reference” from “today’s retailer quote.” This is especially important around holidays and weekends, when a stale timestamp can otherwise make old data look current.

What happened on the last working-day benchmark

On 1 October, the IBJA 999 gold benchmark moved from ₹148,687 per 10g in the AM to ₹148,138 in the PM, an intraday decline of ₹549 or about 0.37%. The 916 benchmark moved from ₹136,197 to ₹135,694, down ₹503, while 750 moved from ₹111,515 to ₹111,104, down ₹411.

Even after that intraday pullback, the 1 October PM figures remained above the 30 September PM benchmark. The gain was ₹250 per 10g for 999, ₹229 for 916 and ₹188 for 750 — roughly 0.17%.

These comparisons provide context without claiming to know where a holiday retail quote should be.

Global gold can move while IBJA is closed

International bullion prices, the U.S. dollar, bond yields and the rupee can all change during an Indian holiday. A shop may respond to those changes before IBJA publishes its next benchmark. That does not make either figure “wrong”; they simply refer to different markets and timestamps.

For a fair comparison, use a rate with a clear timestamp and the correct purity. If timing is important, recheck the official IBJA table when publication resumes.

Purity and hallmark checks do not take a holiday

BIS states that hallmarking provides an official assurance of precious-metal purity. For gold jewellery, permitted grades include 22K/916 and 18K/750, and a modern hallmark includes the BIS logo, purity in caratage and fineness, and a six-digit alphanumeric HUID.

Consumers can use the Verify HUID feature in the BIS Care app. The invoice should also identify the hallmarked article and its purity so the shop’s rate can be compared on the right basis.

GST and making charges remain separate from the benchmark

A benchmark metal rate is not the final jewellery invoice. CBIC states that GST on jewellery is 3% of the total transaction value whether the making charge is shown separately or not. The final bill can also include making/design charges and stone or non-gold value.

When comparing holiday quotes, ask each jeweller for the complete payable amount rather than comparing only the displayed gold rate.

Holiday buyer checklist

1. Confirm the date of the benchmark being used.
2. Match 999, 916 or 750 to the actual product purity.
3. Ask for net gold weight and stone weight separately where relevant.
4. Ask how making charges are calculated.
5. Verify the BIS hallmark and HUID where applicable.
6. Compare the final GST-inclusive invoice.
7. Recheck the next IBJA publication after the holiday if the purchase is not urgent.