Ahead of Diwali and Dhanteras, price of gold and sliver are seen touching all time highs and has reached above Rs. 1,3 Lakhs per 10 grams on October 15. International bullion reached a high of $4,179.79 due to renewed US-China trade tensions and anticipation of further US Federal Reserve rate cuts. According to Good returns, gold rates across all categories increased .
Rates of major precious metal have soared between 58% and 80% this year and has gain across the commodity markets. Gold's rally is driven by robust central bank buying, increased ETF inflows, and Federal Reserve rate cuts. Even tough the price of gold has increased ahead dhanteras and laxmi pujan due to deep rooted tradition it is unlikely to be affected. Experts suggest that inflation and the gold rally may drive consumers to buy smaller amounts of physical gold, such as coins rather than jewelry sets. Today is also Pushya Nakshatra, an auspicious day for gold purchases.
Gold Purity and Rate (Rs per 10g): 24 Karat: Rs 1,28,360, 22 Karat: Rs 1,17,660, 18 Karat: Rs 96,270
City | 24K (Rs) | 22K (Rs) | 18K (Rs) |
Chennai | Rs 12,901 | Rs 11,826 | Rs 9,771 |
Mumbai | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Delhi | Rs 12,851 | Rs 11,781 | Rs 9,647 |
Kolkata | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Bangalore | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Hyderabad | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Kerala | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Pune | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Vadodara | Rs 12,841 | Rs 11,771 | Rs 9,632 |
Ahmedabad | Rs 12,841 | Rs 11,771 | Rs 9,632 |
Jaipur | Rs 12,851 | Rs 11,781 | Rs 9,647 |
Lucknow | Rs 12,851 | Rs 11,781 | Rs 9,647 |
Coimbatore | Rs 12,901 | Rs 11,826 | Rs 9,771 |
Madurai | Rs 12,901 | Rs 11,826 | Rs 9,771 |
Vijayawada | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Patna | Rs 12,874 | Rs 11,801 | Rs 9,657 |
Nagpur | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Chandigarh | Rs 12,851 | Rs 11,781 | Rs 9,647 |
Surat | Rs 12,841 | Rs 11,771 | Rs 9,632 |
Bhubaneswar | Rs 12,836 | Rs 11,766 | Rs 9,627 |
Joita Sen, a Director at Senco Gold and Diamonds, observes that customers are still very interested in buying gold, even though prices have recently gone up. She told Money Control that this is because of the current holiday and wedding season. Sen points out that gold continues to be popular as both something people feel good about buying and a reliable investment. Customers are choosing less heavy jewelry or trading in old gold to stay within their budget. In general, people are still very excited about gold because it's an important part of celebrations.