The price of the yellow metal stays robust despite being all-time high. If you’re planning a purchase, you’ll want to check the Gold Rate Today in Major Indian Cities, as prices have been on a significant upward trend.
For 10 grams, the 24 Carat Gold Price is hovering around ₹1,18,790 in cities like Delhi and Chennai, with Bangalore, Hyderabad, and Kolkata close behind at approximately ₹1,18,690 to ₹1,18,640. Similarly, the 22 Carat Gold Rate Today (the common purity for jewellery) is roughly ₹1,08,900 for Delhi and Chennai, and about ₹1,08,750 in Bangalore, Hyderabad, and Kolkata. (Note: These are indicative prices and may change, excluding GST and making charges.). Compare this with the gold rate on September 25th, which is quite a good gain.
Why the Spike?
The primary driver is the global market, where gold is seen as a “safe-haven” asset. Factors like geopolitical tensions (the ‘new barometer’ of global uncertainty, as noted by the RBI) and expectations of US Federal Reserve interest rate cuts are pushing international prices to all-time highs. This, combined with a weaker Indian Rupee, makes imported gold more expensive for us domestically.
Adding fuel to the fire is the huge Festive Demand! With Diwali and Dhanteras just around the corner, traditional and wedding-related purchases in India are booming. Buyers are shifting to lighter, more intricate designs to manage costs, but the demand remains robust.
The Future Gold Trend looks mostly bullish. Analysts suggest gold could hit ₹1,22,000 per 10 grams by Diwali! While there might be minor corrections (buy-on-dips moments) due to profit-taking, the fundamental upward pressure from global uncertainty and local festive buying remains strong.
Note: Remember that gold prices differ slightly across cities due to local taxes and association rates.
Don’t miss out on securing your investment! Compare Today’s Gold Prices now before the festive rush pushes them even higher!
