Gold rates in India paused from any rise or fall during the celebration of Choti Diwali on October 19. This comes after 24 carat, 22 carat and 18 carat gold prices recorded a massive decline on Dhanteras. Similarly, silver rates in India are also unchanged. In the first two days of the Diwali festival, both precious metals have paused their supersonic rally to new all-time highs. Despite the latest correction, the outlook remains bullish till the next Diwali. The price of 10 grams of gold is predicted to hit the Rs 1.5 lakh mark by 2026 Samvat.
24 carat gold prices are at Rs 1,30,860 per 10 grams on Choti Diwali, followed by Rs 13,08,600 per 100 grams. Gold was at Rs 1,04,688 per 8 grams and at Rs 13,086 per 1 gram.
22 Carat Gold Prices:
Under 22 carat, 10 grams gold is at Rs 1,19,950; 100 grams gold stood at Rs 11,99,500; while 8 grams and 1 gram gold rates are at Rs 95,960 and Rs 11,995 respectively.
18 Carat Gold Prices:
Here, 10 grams gold price stood at Rs 98,140, while 100 grams is available at Rs 9,81,400. Further, 8 grams gold is at Rs 98,140 and 1 gram gold is priced at Rs 9,814.
Check Gold Rates In Major Cities:
Gold Rates In Chennai:
On Dhanteras, 10 grams gold price is at Rs 1,30,370 in 24 carat, at Rs 1,19,500 in 22 carat, and at Rs 98,600 in 18 carat.
Gold Rates In Hyderabad:
10 grams gold rate stood at Rs 1,30,860 in 24 carat, at Rs 1,19,950 in 22 carat, and at Rs 98,140 in 18 carat.
Gold Rates In Bengaluru:
Similarly, 10 grams gold rate in Bengaluru is at Rs 1,30,860 in 24 carat, at Rs 1,19,950 in 22 carat, and at Rs 98,140 in 18 carat.
Gold Rates In Mumbai:
Just like Hyderabad and Bengaluru, 10 grams gold price is at Rs 1,30,860 in 24 carat on Dhanteras, followed by Rs 1,19,950 in 22 carat and Rs 98,140 in 18 carat.
Gold Rates In Delhi:
Gold rates are higher in Delhi with 10 grams at Rs 1,31,010 in 24 carat, at Rs 1,20,100 in 22 carat, and at Rs 98,290 in 18 carat.
Silver prices are also unchanged on Sunday. 1Kg silver is priced at Rs 1,72,000, while 100 grams and 10 grams silver stood at Rs 17,200 and Rs 1,720. Further, 8 grams gold and 1 gram gold is at Rs 1,376 and Rs 172 respectively.
Gold Prices Outlook:
As per NS Ramaswamy, Head of Commodities & CRM, Ventura, gold is fueling investor confidence and a strong sense of FOMO as every pullback is being met with aggressive buying. In India, gold rates are rising sharply with the upcoming festive season (Dhanteras Diwali) and domestic demand gearing up. The auspicious festive time during 29th Oct'24 Dhanteras witnessed sales volume close to 25-30 tons. Despite the lower quantity, the sales value in monetary terms saw an increase approx. 12-18% surge. Consumers have adapted to buying design rich ornaments and lightweight buying with smaller items like gold coins due to record high prices. During Q2 2025 jewelry demand dropped 17% year-on-year while other investment options and alternatives saw increased demand.
"rice resistances seen at Rs.130000 - Rs.135000. Support Comes at Rs.121000 / $4000. Weakness could set in only on breaking Rs.120000 / $3980. Starting the next rally from Dhanteras 2025, the unchartered territory of $5000 per ounce / Rs.150000 per ten grams could be in 2026," said Ramaswamy.
Furthermore, Eshwar Surana, Managing Director, Raj Diamonds said, with gold prices at record highs, demand for natural diamond-studded jewellery, crafted with minimal gold, has surged this season. In terms of design, the diamond jewellery featuring prized colored gemstones is becoming a big trend during this season. The bridal market, once dominated by gold, is seeing a strong shift toward natural diamonds that lab-grown or other gemstones can't replicate. Consumers are also embracing 18-karat closed settings and 14-karat contemporary jewellery, reflecting modern tastes.
He added, " We foresee natural diamonds becoming a mainstream choice not just for bridal but for everyday wear too, with growing demand for lightweight, lifestyle-oriented designs. We expect this positive momentum to continue through the wedding season."
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