On the occasion of Diwali and Dhanteras, gold prices have reached record highs. 24-carat gold is trading at ₹1,32,770 and 22-carat gold at ₹1,21,700 per 10 grams. Silver has seen a decline and is now at ₹1,85,000 per kilogram. Due to increasing investor demand and global uncertainty, gold remains a ‘safe haven’.
Gold-Silver Price Today: Before the festivals of Diwali and Dhanteras, gold has become more lustrous, with 24-carat gold reaching ₹1,32,770 and 22-carat gold ₹1,21,700 per 10 grams. Strong investor demand, pressure in international markets, and economic-geopolitical uncertainties have made gold a ‘safe haven’ asset. Meanwhile, the price of silver has fallen and is trading at ₹1,85,000 per kilogram. Differences in prices across cities are observed due to making charges, taxes, and transportation.
Today's Latest Gold Prices
Today, the price of 24-carat gold has reached ₹1,32,770 per 10 grams, while 22-carat gold is trading at ₹1,21,700. Around the same time last year, 24-carat gold was selling for approximately ₹80,610 and 22-carat gold for about ₹72,500. This means that the annual increase in gold prices this year has been approximately 68 percent.
Gold Prices in Major Cities
- Chennai: 24 Carat ₹1,33,090, 22 Carat ₹1,22,000
- Mumbai: 24 Carat ₹1,32,770, 22 Carat ₹1,21,700
- Delhi: 24 Carat ₹1,32,920, 22 Carat ₹1,21,850
- Kolkata: 24 Carat ₹1,32,770, 22 Carat ₹1,21,700
- Bengaluru: 24 Carat ₹1,32,770, 22 Carat ₹1,21,700
- Hyderabad: 24 Carat ₹1,32,770, 22 Carat ₹1,21,700
- Kerala: 24 Carat ₹1,32,770, 22 Carat ₹1,21,700
- Pune: 24 Carat ₹1,32,770, 22 Carat ₹1,21,700
- Ahmedabad: 24 Carat ₹1,32,820, 22 Carat ₹1,21,750
Silver Market Update
In contrast to gold, silver prices saw a decline on Friday. On October 17, the price of silver was ₹1,85,000 per kilogram, but after a fall of ₹4,000 in the market today, the price stands at ₹1,81,000 per kilogram.
Reasons Behind Gold's Rally
Experts believe that amid economic and geopolitical uncertainties, gold and silver have become investors' top choice. Global economic instability, inflation, and changes in policies worldwide have made gold a safe investment option. During the festive season, the demand for gold naturally increases. On occasions like Diwali and Dhanteras, people purchase jewelry, leading to a surge in gold prices.
Furthermore, international gold prices and currency exchange rates directly impact the domestic market. Differences in gold prices across cities are observed due to making charges, transportation, and taxes. Investors and jewelry buyers keep this in mind.
Investor Outlook
Currently, investors view gold not only for jewelry but also as a safe investment instrument. Due to economic uncertainties, people are trying to safeguard their savings in gold and silver. Experts believe that price fluctuations are normal during festive seasons when gold demand increases.
