Gold rates in India recorded their three-day losses during Dhanteras and main Diwali and touched their all-time high levels on October 21, moments ahead of the Muhurat trading session. The price of 100 grams of gold climbed by Rs 20,800 on Tuesday, while 10 grams of 24 carat touched its record of Rs 132,770. 22-carat gold prices were up by Rs 190 to Rs 19,000, followed by gains of Rs 156 to Rs 15,600 in 18 carats. However, silver rates in India continued to drop.
10 grams gold price surged by Rs 2,080 to reclaim its peak level of Rs 1,32,770, while 100 grams gold climbed by Rs 20,800 to Rs 13,27,700 on October 21.
Prior to this, 100 grams gold price slipped by Rs 1,700 on October 20th, and declined further by Rs 19,100 on October 18th. The price was unchanged on October 19th. During these three days, both 10 grams and 100 grams gold prices nosedived by Rs 2,080 and Rs 20,800 in 24 carat.
Hence, currently, gold rates have recorded these losses.
22 Carat Gold Prices:
Here, 10 grams gold rate jumped by Rs 1,900 to Rs 1,21,700 on October 21st, while 100 grams gold price soared by Rs 19,000 to Rs 12,17,000.
18 Carat Gold Prices:
Under 18 carat gold rates, 10 grams gold is up by Rs 1,560 to Rs 99,580 and 100 grams gold surged by Rs 15,600 to Rs 9,95,800.
The cheapest gold price stood at Rs 13,277 per gram for 24 karat gold, at Rs 12,170 per gram for 22 karat gold and at Rs 9,958 per gram for 18 karat gold (also called 999 gold).
Silver prices dropped by Rs 2,000 to Rs 1,70,000 per 1kg, by Rs 200 to Rs 17,000 per 100 grams, and was lower by Rs 20 to Rs 1,700 per 10 grams on Tuesday. Silver rates are down since October 16th.
1Kg silver price was unchanged from October 19th to 20th, but declined by Rs 13,000 on October 18, followed by drop of Rs 4,000 and Rs 1,000 on October 17 and 16.
According to Darshan Desai, CEO - Aspect Bullion & Refinery, ongoing uncertainties, including the fragile ceasefire in West Asia, the prolonged U.S. government shutdown, and expectations of a Federal Reserve rate cut next week, continue to support demand during price dips. In India, strong festive demand for Diwali and the upcoming wedding season are also likely to keep gold prices supported.
MCX Gold Price + MCX Silver Price
Gold and silver prices soared massively ahead of Muhurat trading session which will begin from 1:45 pm to 2:45 pm.
On October 20th, MCX gold with December 2025 expiry, closed at Rs 1,30,588 per 10 grams, up by Rs 3,580 or 2.82%. Meanwhile, MCX silver with December 2025 expiry, climbed by Rs 1,571 or 1% to Rs 1,58,175 per 1kg.
MCX Gold & Silver Muhurat Trading Outlook:
As per Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, festive demand in India continues to lend strength to prices, though post-festive profit booking may emerge as traders lock in gains. The focus this week will remain on the US CPI and Core CPI data, which could guide market expectations on the Fed's next rate action. The prolonged US government shutdown has also kept a premium built into gold prices, sustaining its safe-haven appeal. The trading range is expected between Rs 1,25,000 and Rs 1,30,000.
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