Rupee, gold and silver: twelve months to 19 October 2026

Three prices, one year

Three numbers drive a lot of Indian household balance sheets: the rupee–dollar rate, gold and silver. Here is where each stood on 19 October 2026, against a year earlier.

Gold and silver prices are WealthTicker's India-rate calculation, described on the gold and silver price page. Gold rose 3.6% in rupees over twelve months, but a weaker rupee did much of the work: by our arithmetic, dividing out the 8.0% fall in the rupee leaves gold about 4.1% lower in dollar terms, and silver about 12.7% higher.

The month-end path

The dollar rose from ₹89.77 at the end of 2025 to ₹94.92 by the end of June, and the month-end rates since have stayed between ₹94.9 and ₹95.9. Its weakest close of 2026 was ₹96.88 on 23 July; it has since regained about 2%. Our third-quarter rupee post has the quarter in detail.

Gold peaked at ₹15,738 per gram on 29 January, and silver at ₹338.5 on 26 January. Today gold is 18.8% below its peak and silver 48.0% below. Silver fell more than twice as far as gold, which is why the gold-silver ratio drifted from the mid-50s at the February month-end to 72.6. Our gold-silver ratio post explains how to read it, and the year-to-October gold and silver post has the wider run.

Why this matters

The rupee is a return of its own. Anyone who holds gold, silver or an overseas fund gets the dollar move added to the underlying move. Over the last twelve months that added 8.0% to the rupee value of anything priced in dollars. Our overseas funds post shows how this lifted overseas funds.

Silver's twelve-month gain hides a large fall. Anyone who bought a year ago is up 21.8%; anyone who bought in January is down about 48%. Both are true, and the starting date decides which one you see.

A peak is a number, not a target. Prices at ₹15,738 and ₹338.5 are history. Our post on how long gold and silver take to regain a peak looks at how long earlier peaks took to be regained in rupees.

Notes on the data

Currency rates are the daily rates in our database. Gold and silver are our computed India rates per gram, not a jeweller's price: making charges, GST and the retail spread are extra. Percent changes in dollar terms are our own division of the rupee change by the dollar change.

This post describes prices and does not say which way they will go.