Gold Price Today: The price of gold in India remained unchanged on October 26. The rate for 24K gold stood firm at Rs 1,25,620 per 10 grams. Similarly, the prices for 22K and 18K gold were also constant at Rs 1,15,150 and Rs 94,220 per 10 grams, respectively.
It’s not just gold; the price of silver also saw no changes. The price of silver stood at Rs 1,55,000 per kg, unchanged from the previous day. It is noteworthy that in the last few days, especially since Diwali, the rates of gold and silver have lost momentum after a blistering rally that saw the precious metals reach new peaks.
Gold and Silver Prices in Major Indian Cities
There were slight variations in gold prices across the country’s major metropolitan cities. While prices in Mumbai and Kolkata were identical, there were minor differences in Delhi and Chennai. Let’s take a look at the gold and silver rates in the major cities today.
| City | 24K Gold (10 grams) | 22K Gold (10 grams) | 18K Gold (10 grams) | Silver (1 kg) |
|---|---|---|---|---|
| Mumbai | ₹ 1,25,620 | ₹ 1,15,150 | ₹ 94,220 | ₹ 1,55,000 |
| Delhi | ₹ 1,25,770 | ₹ 1,15,300 | ₹ 94,370 | ₹ 1,55,000 |
| Chennai | ₹ 1,25,450 | ₹ 1,15,000 | ₹ 96,250 | ₹ 1,70,000 |
| Kolkata | ₹ 1,25,620 | ₹ 1,15,150 | ₹ 94,220 | ₹ 1,55,000 |
| Bengaluru | ₹ 1,25,620 | ₹ 1,15,150 | ₹ 94,220 | ₹ 1,57,000 |
| Hyderabad | ₹ 1,25,620 | ₹ 1,15,150 | ₹ 94,220 | ₹ 1,70,000 |
Impact of the International Market
The international market is also witnessing volatility. On Friday, gold snapped a nine-week winning streak, following a sharp correction as investors reassessed the rally.
However, bullion pared its losses after a softer-than-expected US inflation report reinforced bets on further monetary easing by the US Federal Reserve. Lower bond yields have increased the likelihood of interest rate reductions, which typically benefits non-interest-paying bullion.
Spot gold had recently notched a record high of $4,381.21 an ounce but has fallen over 6% since, as investors booked profits. This year, bullion has gained 55%, driven by geopolitical and trade tensions, robust central bank buying, and expectations of U.S. interest rate cuts, among other factors.
