Gold Rates In India: Just ahead of Dussehra, gold rates in India proved to have an unbeatable rally on October 1st. The start of the month is a with big bang as 10 grams gold prices climb to hit new highs of Rs 1,19,240 in 24 carat and Rs 1,09,300 in 22 carat. The 100 grams gold rates extended their gains by a whopping Rs 13,200 to Rs 18,000 across carats on Wednesday alone. At MCX as well, both gold and silver prices touched new historic highs. The performance also comes at a time when RBI decided to pause key rates for the second consecutive monetary policy.
24-carat gold rates in 10 grams rose by a whopping Rs 1,800 to new record high of Rs 1,19,240. Meanwhile, 100 grams gold price witnessed the sharpest jump of Rs 18,000 to Rs 11,92,400 on Wednesday. The 8 grams and 1 gram gold price stood at Rs 95,392 and Rs 11,924, registering an upside of Rs 1,440 and Rs 180 respectively.
22 Carat Gold Prices:
In case of 22 carat, 10 grams gold price surged by Rs 1,650 to new peak of Rs 1,09,300. The 100 grams gold price zoomed by Rs 16,500 to Rs 10,93,000. Additionally, the 8 grams gold of 22 carat rose by Rs 1,320 to Rs 87,440, and the 1 gram gold price climbed by Rs 165 to Rs 10,930.
18 Carats Gold Prices:
Coming to 18 carat, here, 10 grams gold price jumped by Rs 1,320 to Rs 89,400, and 100 grams gold recorded an upside of massive Rs 13,200 to Rs 8,94,000. Also, 18 carat gold in 8 grams was higher by Rs 1,056 to Rs 71,520 and 1 gram up by Rs 132 to Rs 8,940.
That being said, gold rates are at fresh record highs on October 1st.
Unlike gold rates that rallied to new highs, the silver prices in India were unchanged but at their all-time highs. 1Kg silver rate is at Rs 1,51,000, while 100 grams and 10 grams silver prices are at Rs 15,100 and Rs 1,510 respectively.
MCX Gold Price + MCX Silver Price:
In the early trade, MCX gold price with December 2025 expiry, touched a new all-time high to Rs Rs 1,18,444 per 10 grams. However, after market hours on October 1st, the bullion closed at Rs 1,17,890 per 10 grams, registering a growth of Rs 625 or 0.53% from the previous session.
Similarly, MCX silver price with December 2025 expiry posted its new peak to Rs 1,45,560 per 1kg before correcting. Currently, this precious metal is at Rs 1,45,384 per 1kg, which was higher by mind-boggling Rs 3,239 after closing bell of October 1st.
Gold & Silver Rates Outlook Ahead
"Gold has support at $3830-3810 while resistance is at $3884-3910. Silver has support at $46.60-46.30 while resistance is at $47.40-47.70. In INR terms, gold has support at Rs1,15,800-1,15,180 while resistance is at Rs1,16,950-1,17,300. Silver has support at Rs1,41,450-1,40,850 and resistance is at Rs1,43,550, 1,44,300," said Rahul Kalantri, VP Commodities, Mehta Equities.
What Is Impacting Gold & Silver Prices?
As per Axis Securities commodity report, Comex Gold extended its winning streak to a fourth consecutive session, advancing nearly 0.7% to close above $3,850, marking another record high. The rally was fueled by strong safe-haven demand amid growing concerns over a potential U.S. government shutdown, a weaker dollar index, and expectations of aggressive interest rate cuts, which continued to support bullish momentum in the yellow metal.
Should You Buy/SELL Gold Or Silver?
For gold, analysts at Nirmal Bang in their technical report dated on October 1st, said, "Gold prices are expected to rise. Traders can buy at 117500 with a stop loss of 117100 for the target at 118000-118500."
In case of silver, the analysts added, "prices are expected to rise.One can buy at 144500 with a stop loss of 143000 for the target at 146000-147500."
Spot Gold Price + Spot Silver Price
Spot Gold traded above $3,870 per ounce, hovering near record highs, as investors weighed an unexpected drop in US private employment alongside safe-haven demand driven by the federal government shutdown, as per Trading Economics. Spot Silver rose above $47 per ounce on Wednesday, marking a new 14-year high.
Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.
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