Gold Rates In India Crashed By Rs 19,100 On Dhanteras: 24K, 22K, 18K Gold Prices In Your City On Oct-18; BUY?

Gold rates in India crashed for the first time in seven days and pulled back sharply from their record highs on October 18. During the occasion of Dhanteras, when buying gold is seen as auspicious, the latest decline comes as good news for buyers. This Dhanteras, experts suggest buying gold with a thoughtful strategy rather than taking an emotional impulse due to the legacy of gold as a safe haven. On Saturday, 10 grams of gold is cheaper by Rs 1,910 in 24 carat, and the price of 100 grams of gold has slipped by a whopping Rs 19,100.

"As we celebrate Dhanteras, a festival that symbolizes prosperity and thoughtful investing, it's encouraging to see gold and silver, the traditional favourites, deliver standout performance this year, driven by global uncertainty and robust investor demand," said Sachin Sawrikar Managing Partner of the USD 800 million Artha Bharat Investment Managers to GoodReturns.

Gold Rates In India:

24 Carat Gold Prices:

10 grams gold dipped by Rs 1,910 to Rs 1,30,860 on Dhanteras, while 100 grams gold price shed Rs 19,100 to Rs 13,08,600. Meanwhile, 8 grams gold price also dropped by Rs 1,528 to Rs 1,04,688 and 1 gram gold was down by Rs 191 to Rs 13,086.

22 Carat Gold Prices:

In case of 22 carat, 10 grams gold is now cheaper by Rs 1,750 to Rs 1,19,950 and 100 grams declined by Rs 17,500 to Rs 11,99,500. 8 grams gold and 1 gram gold is also lower by Rs 1,400 and Rs 175 to Rs 95,960 and Rs 11,995 respectively.

18 Carat Gold Prices:

Also, 18 carat gold prices are down by Rs 1,440 to Rs 98,140 per 10 grams and tumbled by Rs 14,400 to Rs 9,81,400. Gold price of 8 grams dived by Rs 1,152 to Rs 78,512, while 1 gram gold is lower by Rs 144 to Rs 9,814.

The latest decline comes after gold prices recorded massive surge from October 11th to October 17th, with 24 carat gold prices skyrocketing by Rs 90,600 in 100 grams and Rs 9,060 in 10 grams. Noteworthily, gold prices were at new record high yesterday with 10 grams at Rs 1,32,770 in 24 carat, at Rs 1,21,700 in 22 carat, and at Rs 99,580 in 18 carat.

Check Gold Prices In Major Cities:

Gold Rates In Chennai:

Gold Rates In Hyderabad:

Gold Rates In Bengaluru:

Gold Rates In Mumbai:

Gold Rates In Delhi:

Silver Rates In India:

Following the trend in gold, silver rates in India also plunged steeply by Rs 13,000 to Rs 1,72,000 per 1kg, and down by Rs 1,300 to Rs 17,200 per 100 grams. Silver is down by Rs 130 to Rs 1,720 per 10 grams, and the cheapest silver is of Rs 172 per 1 gram which is down by Rs 13.

According to Shahzad Madon, CEO of TCG Asset Management, both gold and silver have witnessed relentless rallies in the international and domestic markets by scaling all-time highs.

However, he also explained, while global uncertainty along with geo-political tensions and persistent FII outflows from domestic markets have triggered profit-taking in recent weeks. While bullions may not lose steam in a hurry, any major positive trigger like signing of the Indo-US trade deal could provide upside to the equity market.

Should You Buy Gold & Silver On Dhanteras?

"India's "investment share" of gold demand is rising; buyers are gravitating toward coins and bars over expensive jewellery as fabrication costs bite. But record highs come with trade-offs: jewellery demand is forecast to weaken this festive season," Inderbir Singh Jolly, CEO, PL Wealth Management told GoodReturns.

At present, gold remains woven into India's spiritual and social fabric. Long before markets existed, Indians regarded gold as a safeguard against misfortune and a conduit for divine blessings-especially on days like Dhanteras, tied to Goddess Lakshmi and prosperity. Families across generations have passed down gold as both a gift and a legacy-an asset that transcends markets and seasons.

But this Dhanteras, Jolly said, "gold bridges two worlds: it's a prayer to tradition and a hedge in portfolios. For investors, the message is clear: buy thoughtfully, balance ritual with risk, and lean into quality, liquidity, and portfolio allocation-not emotional impulse".

MCX Gold Price + MCX Silver Price

A day before Dhanteras, MCX gold and silver touched a new peak of Rs 1,32,294 per 10 grams and Rs 1,70,415 per 1kg. However, after market hours, MCX gold closed at Rs 1,27,320 per 10 grams up by Rs 312, while MCX silver ended at Rs 1,57,300 per 1kg up by Rs 696 on October 17th.

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